Its hard to go a day without seeing a Disney financial success story.
After all, the Marvel film Black Panther kicked off Disneys year with a solid performance at the box office, earning $202 million its first weekend. Then came Avengers: Infinity War, which set the opening weekend record previously held by another Disney-owned franchise, "Star Wars," with The Force Awakens. (Infinity War also raked in the second-best second weekend ever).
Disney keeps lining them up and smacking them out of the park.
But Tuesday we learned one of their big-budget films wasnt so successful. According to Yahoo! Finance, Disneys 2018 second quarter earnings report noted that A Wrinkle in Time didnt do as well as anticipated.
The increase in theatrical distribution results was due to the success of 'Black Panther' in the current quarter. This increase was partially offset by the performance of 'A Wrinkle in Time' in the current quarter, the report said.
The film, which starred Oprah Winfrey, Reese Witherspoon and Chris Pine, earned $33 million during its opening weekend, considerably less than the $202 million Black Panther raked in or the $258 million from Infinity War.
So far, Wrinkle has earned only $126.8 million worldwide.
According to a New York Times report, the film had a marketing and production budget of about $150 million, though Deadline suggested that number might have been $250 million.
This means Disney may have lost between $86 million and $186 million on the film since studios make back only about half of the box office gross, according to Yahoo.
This isnt Disneys first rodeo with taking losses. In 2012, the film John Carter took in $284 million at the box office on a budget of $350 million. It was listed as one of the most epic movie flops in history by CBS News.
After all, the Marvel film Black Panther kicked off Disneys year with a solid performance at the box office, earning $202 million its first weekend. Then came Avengers: Infinity War, which set the opening weekend record previously held by another Disney-owned franchise, "Star Wars," with The Force Awakens. (Infinity War also raked in the second-best second weekend ever).
Disney keeps lining them up and smacking them out of the park.
But Tuesday we learned one of their big-budget films wasnt so successful. According to Yahoo! Finance, Disneys 2018 second quarter earnings report noted that A Wrinkle in Time didnt do as well as anticipated.
The increase in theatrical distribution results was due to the success of 'Black Panther' in the current quarter. This increase was partially offset by the performance of 'A Wrinkle in Time' in the current quarter, the report said.
The film, which starred Oprah Winfrey, Reese Witherspoon and Chris Pine, earned $33 million during its opening weekend, considerably less than the $202 million Black Panther raked in or the $258 million from Infinity War.
So far, Wrinkle has earned only $126.8 million worldwide.
According to a New York Times report, the film had a marketing and production budget of about $150 million, though Deadline suggested that number might have been $250 million.
This means Disney may have lost between $86 million and $186 million on the film since studios make back only about half of the box office gross, according to Yahoo.
This isnt Disneys first rodeo with taking losses. In 2012, the film John Carter took in $284 million at the box office on a budget of $350 million. It was listed as one of the most epic movie flops in history by CBS News.