The appeal of watching the planet get decimated by evil weather patterns at the movies has waned for some reason that I can’t quite put my finger on. Geostorm is a total catastrophe at the box office.
According to Paste Magazine, Geostorm’s budget was $120 million (far larger than originally intended), which included $15 million in reshoots. Though some Jezebel staffers delighted in the film, it only brought in $14.7 million in domestic box office this past weekend.
It did take in $66.8 million in total, worldwide, following the trend of terrible movies doing better overseas. The failure of Geostorm is yet another hit in a year of flops, and not just for Warner Bros. Special effects-heavy non-franchise films have been eating shit all year.
Geostorm is runner-up in flops this year for Warner Bros, coming in second after King Arthur: Legend of the Sword. I have no idea what that even is, but the Wrap reports it never recouped its budget of $175 million following its release in May. Financial analysts told the Wrap that a film like Geostorm needs to do more than cover the budget to break even:
Box office and finance analysts who spoke with TheWrap estimate that the break-even point for “Geostorm” is likely between $300 million and $350 million worldwide. Usually, for a non-franchise event release, the bar is set between $350 million and $400 million.
Because Warner Bros halted advertising efforts for the film, experts suspect they were cutting their losses and not dumping more good money. They knew it would tank., but the studio can afford to take the hit: they’ve also got Wonder Woman, Dunkirk, and It under their belt for 2017. Make three popular movies for every two terrible ones and you will stay afloat during the blockbuster apocalypse.