What is happening in Hollywood? It was suppose to be easy. The business model was based on acquiring Intellectual Properties, then turn them in media franchises across every platform. Simple. A movie here, a television show there, spin off’s in every directions. Audiences would pay to see their favorite characters in new adventures time and time again.
Apparently the audience did not read the memo. One major release after another has stumbled. The big studios have hit a box office wall of underperforming films or out and out flops. It was not suppose to be this way. It is one thing when a movie disappoints, it’s a panic attack when a eco-system faces collapse.
The Disney and Lucasfilm’s INDIANA JONES and THE DIAL of DESTINY recently opened with a soft $60 million weekend in take. The $300 million production needs to earn over $700 million to break even. That number seems unlikely given the drowsy reviews of the James Mangold film. Harrison Ford’s fifth and last outing as the iconic adventurer seemed set to be a spinoff for a more modern story. Unlikely given Disney could lose as much $500 million on the time traveling saga. Disney head Bob Iger’s having acquired George Lucas’s creations for over $4 billion in 2012 has fans asking what was the point? Four STAR WARS productions each one worse than the other, now the nail in the coffin, a below average Indy movie.
The Other Side of Burbank
The other Burbank powerhouse studio, Warner Bros finds itself moving into pray mode. The $200 million dollar THE FLASH struggled to cross the $100 million mark at the US box-office. The CGI heavy DC Comic production did not click with ticket buyers. Given that parent company Warner Discovery is in $50 billion debt, certainly alarm bells are ringing in the head office. After all, colorful tight pajamas were written in as a major revenue asset for the media giant.
It is looking more and more fatigue is taking hold of cinema goers. The lack of originality and pandering works have driven away ticket buyers to screaming on social media about Hollywood’s dismal releases.
Hollywood has learned, again, there is no such thing as a sure thing. Will this make studios change course? Disney announced new STAR WARS films. I would almost rather be on Alderaan watching the Death Star hover than sit through another instalment of the now soul less galactic saga.