by Ray Keating
Analysis
DisneyBizJournal.com
June 27, 2023
Will Indiana Jones and the Dial of Destiny help Disney break out of some recent box office woes? Probably not.
Guardians of the Galaxy Vol. 3, released on May 5, 2023, rocked it. It was an excellent movie that did well at the box office – pulling in $831.7 million on a production budget of $250 million and reportedly $100 million to promote. However, when you consider that Disney probably took in about $400 million of that total revenue (given the theater take) – and therefore, earned a box office profit of roughly $50 million – it’s another powerful reminder of how out of control costs are in Hollywood.
And then matters get ugly with The Little Mermaid (released on May 26), as DisneyBizJournal reported. As we pointed out, “That means that Disney’s losses on The Little Mermaid, at this point, are in the range of $170 million to nearly $300 million. That’s staggering, and it’s not the first Disney big-budget flop over the past year or so.”
Amazingly, things have managed to worsen with Elemental. The animated film opened on June 14, and its global box office, according to BoxOfficeMojo.com, currently stands at $124.3 million. That doesn’t seem too bad but for the fact that the production budget reportedly came in at a rather staggering $200 million. Add at least $100 million for marketing/promotion, and the losses mount. Plus, the box office, again, gets divvied up with theaters, so Disney’s take of $124.3 million turns out to be about $63 million. The losses on this film, once more, promise to be breathtaking.
So, we turn to Indiana Jones and the Dial of Destiny, and wonder if Indy can help Disney break out of this, to be generous, box office rut. But consider the whopping $295 million reported production budget for this latest Indy installment, and then add on a substantial marketing/promotion budget. So, it wouldn’t be surprising if we’re talking a total budget of $550 billion. If we assume a 50-50 breakdown in box office revenues between domestic and international – such as what we saw with Top Gun: Maverick – then Dial of Destiny would have to make almost $1.2 billion at the box office to essentially break even.
And as much as I want to love this film, the mixed reviews and projected box office numbers point to Indiana Jones and the Dial of Destiny as no savior for Disney’s recent box office woes. Instead, it’s more likely to extend the company’s losing streak.
Previously…
“My Indy Adventure, Part I: Visiting the Indiana Jones Den of Destiny” by Ray Keating
“My Indy Adventure, Part II: Indiana Jones and the Hawaiian Shirt” by Ray Keating
“My Indy Adventure, Part III: Indiana Jones and the Search for the Comfy T” by Ray Keating
“My Indy Adventure, Part IV: New Reviews of Raiders, Temple of Doom, Last Crusade, and Kingdom of the Crystal Skull” by Ray Keating
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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, and the Alliance of Saint Michael novels; and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.
The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?
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