Following a decidedly softer than expected opening, the Stephen King adaptation “Doctor Sleep” is reportedly on track to lose at least $20-30 million by the time it closes out its run reports Deadline.
Though the $50 million or so budgeted film scored good reviews, expectations were it would gross $25 million at the U.S. box-office in its opening weekend. Instead, it fell decidedly short at $14 million, and international isn’t helping much either with a further $5.6 million added to the total.
As such, the film is expected to finish up its global run in a few weeks with an $80-100 million gross worldwide. In comparison to another recent King reboot, the “Pet Sematary” film made over $112 million worldwide from a $21 million budget. That’s not even beginning to compare to the fortune the “IT” films raked in.
Going into more specifics, the trade says the combined production budget, global P&A spend, participations, residuals, and global home entertainment costs of the film stand at $171 million while it will ultimately gross $149 million in global theatrical rentals, global free and pay TV, and global home entertainment (incl. streaming) deals.
Fingers are being pointed with the film’s 2.5 hour runtime and lackluster marketing campaign being blamed, and the lack of name recognition compared to some of King’s other more famous works. Also not helping are that teenagers, women and Hispanic audiences showed little interest.
‘Sleep’ is the latest casualty of a bad season following “Terminator: Dark Fate” tanking last week to a much larger $130 million loss, next week’s “Charlie’s Angels” is looking to debut very soft, and even this weekend’s surprise top earner “Midway” may not make it into the green if global audiences don’t show up in coming weeks.
It’s also the third dud in a row for the studio following the utter bombing of “The Goldfinch” (a loss of $50M) and “Motherless Brooklyn”. Warners won’t be hurting too much though thanks to “Joker”. Made on a $62.5 million budget, the Todd Phillips-directed and Joaquin Phoenix-led film sits at $984.7 million worldwide as of this weekend – making it the most profitable comic book movie of all time.
It beats previous record-holder “The Mask” which snagged $351 million on a $23 million budget. Other titles on that list include “Venom” ($854 million from a $90 million budget), 1989’s “Batman” ($411 million on a $35 million budget), and “Deadpool” ($783 million on a $58 million budget).
The overall box-office is also expected to get a boost when Disney’s “Frozen” sequel hits in a few weeks.