John Carter cost Disney nearly $300M to make, and now Disney is saying that they will incur a $200M writedown for the fim, according to cnn.com. In other words…John Carter has been a costly flop for Disney. While the reviews weren’t necessarily bad, or deserving of the ‘flop’ title (51% on Rottentomatoes.com), the current economy, season and public perception have cut the legs out from under the film’s run. Here’s more from the CNN response to Disney’s announcement:
However, the abject failure of John Carter is not likely to be forgotten in an industry where a single flop can wipe out a studio’s annual profits. Hopes were initially high for John Carter: Its director, Andrew Stanton, had made the critically lauded and commercially successful Finding Nemo and Wall-E.
But the director openly admitted to struggling with the transition from animated film-making to live action directing. Meanwhile, Burroughs’ source material, which inspired filmmakers such as James Cameron, has failed to energise young, male cinema goers, a crucial demographic for any big-budget action movie.
So while this single film is costing Disney to lose profit for this quarter, things look up for Disney with a big and promising summer upcoming. Even still, it’s hard to imagine such a big blockbuster from Disney would produce such mediocre results.
Did you see John Carter? What were your thoughts on the film?