Talking with several film finance sources, Deadline reports that the Tom Cruise-led “The Mummy” reboot stands to lose an estimated $95 million off of a final estimated global box office tally of $375 million ($75M domestic, $300M overseas).
The film was the biggest global opening ever for Cruise at $169 million, but the number fell to $53 million in its second weekend and negative costs were high – a $195 million production cost and a further $150 million in distribution/ad expenses – totalling $345 million.
When you factor in estimated home rental revenue and take out the global exhibitors cut of the gross box-office revenue, the film is decidedly in the red (analysts say the film has to reach $450 million to break even) and won’t be helped by the opening this week worldwide of “Transformers: The Last Knight” which is expected to severely undercut the Mummy’s future box-office.
A big factor is that the film is one of the worst reviewed blockbusters of not just this summer but also Cruise’s career, but the film’s director Alex Kurtzman says audiences liking it is all that matters. He tells Business Insider:
“This is a movie that I think is made for audiences and in my experience, critics and audiences don’t always sing the same song. I’m not making movies. Would I love them to love it? Of course, everybody would, but that’s not really the endgame. We made a film for audiences and not critics so my great hope is they will find it and they will appreciate it.”
Kurtzman does add that the negative reaction “kills your soul” a little bit after spending so long working on a film. “The Mummy” boasts the worst reviews of Kurtzman’s career to date, one that has included five well to very well reviewed films (“Star Trek,” “Star Trek Into Darkness,” “Mission Impossible 3,” “Ender’s Game,” “Transformers”), numerous well reviewed TV shows (“Fringe,” “Sleepy Hollow,” “Scorpion,” “Matador,” “Alias,” “Van Helsing”), and eleven widely panned films (“The Mummy,’ “Transformers: Revenge of the Fallen,” “The Legend of Zorro,” “Eagle Eye,” “The Island,” “The Proposal,” “Cowboys and Aliens,’ “People Like Us,” “Now You See Me,” “Now You See Me 2,” “The Amazing Spider-Man 2”).