Sony’s ‘Ghostbusters’ Reboot Braces For Possible $70 Million Loss; Sequel Unlikely
Wednesday, August 10th, 2016 at 1:40 pm
It has been an uphill battle for the Sony marketing team ever since the first trailer for the Ghostbusters reboot came out. But when the first box office numbers came out, studio execs were quick to hail the film as a success and said that there would be a sequel without actually confirming that there would be one.
Now there is a sense that they may have jumped the gun a bit as a new report says Sony is possibly going to lose up to $70 million on the movie. More on the story below.
Despite the eight-figure loss, a studio rep tells THR:
“We’re very proud of the bold movie Paul Feig made, which critics and audiences loved. It has enlivened a 30-year-old brand and put it into the modern zeitgeist. As a result, we have many ideas in the works to further exploit the Ghostbusters universe.”
As of today, the film has grossed $180 million at the global box office, including $117 million domestic. It has yet to open in France, Japan, and Mexico. But with marketing costs and a steep $144 million production budget, it is looking less likely that the film will reach $225 million, which is well short of the $300 million the studio needs to break even.
Still, Sony believes that with the revenue from merchandising and third-party attractions like the Ghostbusters exhibit at Madame Tussauds and a theme park ride in Dubai will factor into them making their money back. Some say that the losses are just an exaggeration. A Sony rep. said:
“This loss calculation is way off. With multiple revenue streams, including consumer products, gaming, location-based entertainment, continued international rollout, and huge third-party promotional partnerships that mitigated costs, the bottom line, even before co-financing, is not remotely close to that number.”
The studio has plans for a sequel which will bring back Melissa McCarthy, Kristen Wiig, Leslie Jones, and Kate McKinnon, are all reportedly signed on for two more films. Director Paul Feig has not commented if he will return, but with the projects he’s got lined up he may just be involved in a producer or EP capacity.
But even if a sequel doesn’t happen Sony will be releasing more Ghostbusters in the near future. An animated TV series called Ghostbusters: Ecto Force is set for release in 2019, and an animated feature is scheduled for a 2018 release. Both projects are being guided by original movie director Ivan Reitman.
The reboot wasn’t as bad as some made it out to be, I know that I liked it, but I also recognize that it had its flaws mostly with the film’s strange tone, shoehorned Easter Eggs, and a weak villain.
Even with critics responding well to the film, ultimately it comes down to what the audience thinks, and based on the tepid box office, a sequel to the reboot is looking less and less likely to happen.