[Movies] Universal Expecting Major Loss On 47 Ronin Posted by Joseph Lee on 12.30.2013
It's expected to be a huge bomb...
Variety reports that Universal Pictures is set to write down 47 Ronin as a huge flop. The film cost $175 million, which will be written off as a loss before the current quarter is over. It starred Keanu Reeves and opened on Christmas Day to get only around $20 million for the weekend. This is the worst debut for a film that cost over $150 million in 2013. On Thursday it was at #6 with $3.4 million.
Internationally, it opened in fourteen territories for $10 million as of Wednesday. It had a poor opening in Japan but finished at #1 in Malaysia, Singapore, Thailand and Taiwan.
Universal said in a statement: "Universal Pictures regularly evaluates its film slate for potential adjustment. In the case of '47 Ronin,' we adjusted film costs in previous quarters and as a result our financial performance will not be negatively impacted this quarter by its theatrical performance."
The year has been kind to the studio thanks to Fast and Furious 6 and Despicable Me 2. It is third in overall US box office with over $1.4 billion, just behind Warner Bros. and Disney (which itself lost almost $200 million on The Lone Ranger).