Pan set to lose Warner Bros. $150 million after being panned by critics
Hugh Jackman's latest film was intended to launch a 'family-friendly' franchise in place of Harry Potter
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Your support makes all the difference.Warner Bros. may regret investing so heavily in their latest movie, Pan, after it failed to light up the box office, no doubt indebted to the appalling reviews it has received.
The Hollywood Reporter’s experts are predicting the big-budget origin story could lead to a loss of up to $150 million for the studio.
On its opening weekend, the movie made $15.3 in North America and $20.4 million worldwide, leading to a total profit of $40.5 million (including the amount made in Australia where it has been showing for two weeks already).
The Hugh Jackman-starring film had a budget of $150 million - not including marketing which can often cost way more than the actual film. However, the movie is yet to be released in China, a territory where films have been making increasingly large amounts of money.
CEO of Warner Bros., Kevin Tsujihara had previously said how they hoped to create a family friendly franchise to make up for the loss of the Harry Potter series - although a spin-off, Fantastic Beasts and Where To Find Them, is currently in the works.
One analyst told THR: "It's been a rough year for Warner Bros., but look at what they have next year between Batman v Superman: Dawn of Justice, Suicide Squad and Fantastic Beasts.”
Other films that have proved pricey for the studio include Jupiter Ascending and The Man from U.N.C.L.E.
Pan - starring Jackman, Rooney Mara and Levi Miller - is currently showing in UK cinemas.
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