5 of the Biggest Box Office Bombs of Summer 2016
It’s been a pretty brutal summer at the box office, with lower audience turnout at movie theaters and several of the season’s biggest blockbusters failing to take off as expected. From anticipated sequels like Alice Through the Looking Glass to controversial reboots like Ghostbusters, these films all ended up underperforming, despite boasting sky-high production budgets and heavy marketing fees. Below, check out five of this summer’s biggest box office bombs.
Budget: $100 million plus marketing
Box Office: $54.2 million
The Ben-Hur reboot, directed by Timur Bekmambetov, is officially the biggest box office bust of the summer. According to The Hollywood Reporter, the film, which was co-released by Paramount and MGM, is facing a whopping loss of $120 million or more.
Since its debut in mid-August, the movie has grossed only $54.2 million worldwide, including a pitiful $25 million at the domestic box office. Though it has yet to open in several overseas markets, the film has seemingly failed to resonate with audiences and trackers predict it will have a tough time beating $75 million globally. Considering that Ben-Hur cost nearly $100 million to make before their huge marketing push, its poor performance in theaters will mean a major financial hit for both studios.
2. The BFG
Budget: $140 million plus marketing
Box Office: $165.3 million
Despite earning mostly positive reviews from critics, this Steven Spielberg-directed family film ended up being a huge miss at the box office. The movie only earned $165.3 million globally after costing a hefty $140 million to make. According to The Hollywood Reporter, The BFG‘s mediocre performance will result in a loss of $90 to $100 million for its production partners, Disney, Spielberg’s Amblin Entertainment, and Participant Media.
Budget: $144 million plus marketing
Box Office: $224.6 million
This controversial reboot proved to be a disappointment at the box office, despite its high-profile cast and the strong buzz it garnered in the lead-up to its premiere. Though the movie saw a solid opening weekend, interest in the film dipped quickly in the following weeks. It ended up garnering $224.6 million worldwide — which, considering the film’s huge budget and hefty marketing costs, isn’t even enough for the studio to break even. With that theatrical performance in mind, insiders have estimated the Ghostbusters reboot will result in a financial loss of about $60 to $70 million.
4. Alice Through the Looking Glass
Budget: $170 million
Box Office: $295.4 million
Disney’s Alice Through the Looking Glass was also one of this season’s major box office bombs. The sequel cost an estimated $170 million to make (not including the likely expensive marketing budget) but ended up topping out at the box office at $295.4 million worldwide. According to The Hollywood Reporter, that means a loss of at least $65 million for the studio. Luckily for Disney, this is just a bump in an exceptionally strong year so far. The studio has actually had a number of hits in 2016 — including two of the summer’s biggest earners, Captain America: Civil War and Finding Dory.
5. Teenage Mutant Ninja Turtles: Out of the Shadows
Budget: $155 million
Box Office: $242.8 million
The sixth film in the Teenage Mutant Ninja Turtles franchise also failed to meet expectations at the box office. Per Forbes, the movie ended up earning around 50% less than its predecessor, with a weak opening in its debut weekend and continually dipping earnings in the rest of its theatrical run. Between this and the disappointing Ghostbusters, it’s clear that the nostalgia-fueled flicks failed to click the way studios hoped this summer.
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