Report says The Mummy could lose as much as $95 million

The beginning of Universal’s Dark Universe arrived almost two weeks ago with THE MUMMY, and what should’ve been a grand entrance was more a defeated limp through the doorway. Receiving a critical beat down from critics and audiences the movie opened well below expectations in the U.S. – despite a big opening globally. But those global dollars probably won’t save the troubled pic, and one estimate has already come out as to how much the studio could lose. Long story short, they better find an ancient tomb full of jewels to rob, and quick.

Deadline has gathered from several financial sources that the Tom Cruise-led action movie could lose as much as $95 million after all is said and done, with their estimated final global tally hitting somewhere around $375 million. Though that’s no chump change to us normal folk, the movies estimated budget falls around the $350 million range, with a combined $190 million production budget and a $150 million global promotion cost.

The movie has been severely hurt by bad buzz, which hasn’t always spelled doom for movies, such as the TRANSFORMERS films or last year’s BATMAN V. SUPERMAN. But in a summer crowded with so many tentpole films (including the beloved WONDER WOMAN) audiences are flaking on the franchise starter, with competition growing each week. Normally movies like this hope to gain from overseas box office numbers, and the movie's current global haul is $293 million, but this week alone sees the release of TRANSFORMERS: THE LAST KNIGHT, a franchise with tremendous global appeal. No doubt its release will harshly cut into MUMMY’s numbers, as will next week’s DESPICABLE ME 3, another franchise entry that’s sure to take advantage of deep overseas roots. From there it gets worse with SPIDER-MAN: HOMECOMING kicking off July.

Total revenue to be gained by Universal (as they only get a small cut from overseas box office revenue) between “theatrical rental, net global TV and home entertainment” is expected to be around $250 million, hence the $95 million loss from its $345 million cost.

The game “Who’s to Blame?” is being played in a lot of circles, with a lot of the weight being placed on Cruise, who is being said to have had a heavy hand in the movies development and marketing. But blaming one person is ludicrous (if the level of his involvement is even true), and the problem is quite simple: THE MUMMY sucks. It is a bad film, and in this age of $15 movie tickets audiences don’t want to turn out to see a movie with such a negative consensus. Had MUMMY even been just mediocre it would’ve fared better as leisure entertainment. But it’s not mediocre; it sucks, and I say that as “a fan”, who studio execs and directors like to say the movie is “really for.” However, that doesn't mean the next one can't be good, or the other Dark Universe films. This is great time for learning what needs to be done going forward. Spend less, and focus on quality instead of franchise tie-ins and bloated CGI. In these situations everyone tries to run around and blame one person, or marketing or critics, when really the problem was staring them in the face from the start. It’s called a script.

THE MUMMY is in theaters now.

Source: Deadline



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