After being released worldwide nearly two weeks ago Disney’s John Carter has not generated enough ticket sales as expected and will cause a loss of millions in the company’s quarterly profits projections.
So far, the so-called sci-fi blockbuster has just been a bust, earning only $184 million globally for a film that cost $250 million to make, and another predicted $150 million more to advertise and promote. In its opening U.S. weekend the movie was only number 2 behind ‘The Lorax’ and made just $30 million.
In a statement on Monday the Walt Disney Co. said, “In light of the theatrical performance of John Carter, we expect the film to generate an operating loss of approximately $200 million during our second fiscal quarter ending March 31,” the company said in a statement.
“As a result, our current expectation is that the studio segment will have an operating loss of between $80 and $120 million for the second quarter.”
Part of the problem is that the film has seen stiff competition from The Lorax and 21 Jump Street which have exceeded expectations. Now with the release of another blockbuster, The Hunger Games this coming weekend, any chances of John Carter making up for losses are slim.
Either way John Carter will now go down as the movie industry’s biggest failures.