Tenet: New report reveals Christopher Nolan film lost Warner Bros. $50 million

Last Updated on September 16, 2021

At the end of the summer of 2020, Warner Bros. braved the pandemic box office by releasing Christopher Nolan’s Tenet exclusively in theaters. This was considered a bold move as many theaters were still shuttered, including in top cities like Los Angeles and New York, and those that were open were operating at limited capacity. It was a big gamble which was done to allegedly please Nolan who insisted on a theatrical release, despite the limitations of the pandemic. Carrying a reported $200 million budget before marketing costs, Tenet grossed a mere $58.5 million domestically and $363.7 million worldwide and now a new report reveals just how much Warner Bros. lost on the risky release.

According to a report released by “Variety” that was breaking down Nolan’s new deal with Universal Pictures for his next film and his fractured relationship with Warner Bros., the director’s push for Tenet to be released exclusively in theaters last year resulted in a loss for the studio of at least $50 million. This is much lower than the reported $100 million losses that were floating around when the film was released last year but it’s still a sizable amount for a major studio that really doesn’t want to see a deficit that’s even as low as $50 million.

Nolan, when speaking of the film’s box office performance last year, seemed pleased with the result given the limitations of the pandemic but Nolan isn’t a studio head and he’s not focused on all the money that was left on the table from releasing Tenet exclusively in theaters. Even with global grosses preventing some of the bleeding, I still say it was a mistake to release Tenet when they did. It ended up being a power business move and the film didn’t represent the essential release that got moviegoers back to the cinema.

The release of Tenet and then Warner Bros. ultimate decision to release their 2021 film slate simultaneously in theaters and on HBO Max, seemed to put the final nail in the coffin between the director and the studio’s relationship. For years they worked in perfect harmony and released critical and box office hits but Nolan is a big advocate of the theatrical experience and, as he saw it, Warner Bros. was beginning to disrespect that. Perhaps Nolan will get what he truly wants working with Universal on his next film.

What are YOUR thoughts on Tenet losing $50 million for Warner Bros.?