My Indy Adventure, Part V: Indiana Jones and the Search for Disney Movie Profits

 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? 

 

Consider books by Ray Keating…

 

• The Pastor Stephen Grant thrillers and mysteries. You can order the latest book in the series – Under the Golden Dome: A Pastor Stephen Grant Novel. Get the signed books here, or paperbacks and Kindle editions right here.

 

• Order The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. Kindle editions and paperbacks via Amazon here and signed books here. And don’t forget the first book in this growing series, i.e., The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks at RayKeatingOnline.com or paperbacks, hardcovers and Kindle editions at Amazon.com.

 

• Cathedral: An Alliance of Saint Michael Novel. Signed paperbacks and/or paperbacks, hardcovers and the Kindle edition at Amazon. 

 

• The Lutheran Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement, inspiration and consolation from the Christian faith.

 

• Behind Enemy Lines: Conservative Communiques from Left-Wing New York  –  signed books  or at  Amazon.

 

•  Free Trade Rocks! 10 Points on International Trade Everyone Should Know is available at  Amazon  in paperback or for the Kindle edition, and signed books at  www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

James Gunn’s Opportunity, Disney’s Loss

 by Ray Keating

News/Commentary

DisneyBizJournal.com

October 25, 2022

 

News broke tonight that director James Gunn will be the co-CEO of DC Studios, along with producer Peter Safran. The duo will lead the film, television and animation division, according to The Hollywood Reporter.

DC Studios will replace DC Films at Warner Bros.

 

While the proof will be in the pudding, for now, this rates as a homerun hire for Warner Bros. Discovery CEO David Zaslav.

 

According to the report, “Gunn will focus on the creative side of things, while Safran will focus on the business and production side.”

 

The deal starts on November 1, runs for four years, at least to start, and Gunn will be exclusive to DC Studios.

 

That puts an end to Gunn’s relationship with Marvel-Disney, with The Guardians of the Galaxy Holiday Special arriving on Disney+ on November 25 and Guardians of the Galaxy Vol. 3 coming to theaters on May 5, 2023.

 

Gunn winding up at DC isn’t a surprise, given that Marvel had fired him as director of Guardians 3, with DC then hiring him for The Suicide Squad and subsequently the HBO Max spinoff Peacemaker. Of course, Marvel hired him back for Guardians 3, eventually. But it’s understandable not only where Gunn’s loyalties might lie, but also that Warner Bros. views Gunn as one of the premiere creators when it comes to superhero cinema.

 

Anyone who appreciates superheroes on the big screen should be pleased with this new DC Studios team, as it points to a potential step up in the quality and coherence of the DCU. Perhaps it might serve as something of a competitive jolt to the MCU, which has had more misses than hits in recent years.

 

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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? 

 

Ray Keating is the author of the Pastor Stephen Grant thrillers and mysteries. Pre-Order Persecution: A Pastor Stephen Grant Novel. Keating says, “I think Persecution might be the most action-packed of any of the Pastor Stephen Grant books so far.”

Signed books at https://raykeatingonline.com/products/persecution  

Kindle edition at https://www.amazon.com/dp/B0BHHJNNB4

 

Two great ways to order Cathedral: An Alliance of Saint Michael Novel, which is the first in the Alliance of Saint Michael series. Signed paperbacks here and the Kindle edition here. 

 

Two great ways to order Ray Keating’s new nonfiction book – The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks here, and paperbacks, hardcovers and Kindle editions here.  

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Guardians Holiday Special Trailer, James Gunn and More

 by Ray Keating

News/Commentary

DisneyBizJournal.com

October 25, 2022

 

Are you ready for The Guardians of the Galaxy Holiday Special?

 

Keep in mind what director James Gunn said in March: “The Holiday Special is the greatest thing I’ve ever done in my life. It’s totally ridiculous, and every day we can’t believe that we’re making it. We all completely love it. It is unlike anything that anyone’s ever seen before. I can’t wait for people to see it.”

 

Well, that’s saying something … I think. Anyway, now we have a trailer released today by Disney, and yes, I’m all in. 

 

The special premieres on Friday, November 25, on Disney+. 

 

Disney notes that the Holiday Special stars “Chris Pratt, Dave Bautista, Karen Gillan, and Pom Klementieff, featuring Vin Diesel as Groot and Bradley Cooper as Rocket. The special also stars Sean Gunn and The Old 97’s, with Michael Rooker and Kevin Bacon.” Yes, the legendary Kevin Bacon!

 

If Gunn scores with this special and Guardians of the Galaxy Vol. 3, which is scheduled for release on May 5, 2023, it’s pretty clear that within the MCU movie realm, Gunn and the Guardians will have earned the top position in terms of consistent quality. But we have to wait and see. Oh yeah, and there’s the fact that the Guardians of the Galaxy: Cosmic Rewind ride at EPCOT ranks as the best roller coaster ride I’ve ever ridden. 

 

Merry Christmas, Star-Lord! (Too early?)

 

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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? 

 

Ray Keating is the author of the Pastor Stephen Grant thrillers and mysteries. Pre-Order Persecution: A Pastor Stephen Grant Novel. Keating says, “I think Persecution might be the most action-packed of any of the Pastor Stephen Grant books so far.”

Signed books at https://raykeatingonline.com/products/persecution  

Kindle edition at https://www.amazon.com/dp/B0BHHJNNB4

 

Two great ways to order Cathedral: An Alliance of Saint Michael Novel, which is the first in the Alliance of Saint Michael series. Signed paperbacks here and the Kindle edition here. 

 

Two great ways to order Ray Keating’s new nonfiction book – The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks here, and paperbacks, hardcovers and Kindle editions here.  

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

AMC Theaters Reopening Still Delayed

by Beth Keating

Commentary

DisneyBizJournal.com

July 23, 2020

We were driving home past our local movie theater last night, having been to one of the pop-up drive-in movies that have started filling the landscape near us, and started to wonder: Are the regular theaters ever really going to reopen?

Don’t get me wrong. The pop-up drive-ins are a novelty, and a welcome diversion in our neighborhood, where the COVID-19 infection rates have finally declined. After nearly four months of being in lock-down in our own houses, leaving only for groceries or pharmacy, we are easily amused these days, even spending $25 to drive up to a 50-foot screen to watch a movie THAT WE ALREADY OWN AT HOME from our car. Suddenly, the privilege of eating cooled down microwave popcorn and sweating in the front seat of our own vehicle seems like great fun.

So, when is the current projected reopening for local theaters? That all depends. With COVID-19 rates skyrocketing in some areas, theater owners are hesitant to give a projected date to bring up the curtains at their complexes. Opening dates seem to be a bit of a moving target these days, with several chains changing their debuts a number of times already.

One of the theater chains modifying their reopening dates is AMC, which was originally set to begin phased, limited attendance reopenings July 15, then amended to July 30^th. But according to Deadline, AMC has now pushed back their viewings to mid-to-late August. (A third of all AMC cinemas in Europe and the Middle East are already open.) Cineplex, another of the four biggest movie chains in the U.S. and Canada, began reopening some theaters in Canada, while over on the Regal website, they offer “Announcement of New Reopening Date Coming Soon.” On June 30^th, Cinemark updated its phased reopening timeline to July 24, but has already opened four theaters in Texas and one at Universal Citywalk prior to that date.

Much to the frustration of chain owners, the timing of reopening is, in many respects, out of their control. Governors with phased re-openings, studios with changing film release dates, and a wary public that is skeptical of donning masks to sit through a newly released film have made it difficult to justify opening their doors. Profit margins for theater owners are notoriously thin to start out with, with most theaters making their money on packing the house for blockbusters and selling supersized soft drinks and overpriced popcorn. Opening to low capacity crowds might be just as financially devastating as not opening for the time being.

Among the anticipated tentpole movies that were thought to be kicking off cinema’s return were Disney’s live-action Mulan, whose date has been pushed back a handful of times already, and which currently has an anticipated August 21^st date. Black Widow, one of Disney’s Marvel creations and a prequel to Avengers: Endgame, has been moved to November 6 from its original May 2020 release date. Christopher Nolan’s/Warner Brothers Tenet, expected to be a big box office draw, has been pushed back as well, and according to Deadline, will not have a single day release, but rather will open in stages, opening first in theaters already functioning overseas, and then move to theaters in states that are “open” and cleared for guests to attend movies.  

The Personal History of David Copperfield (directed by Armando Iannucci, with Dev Patel, Tilda Swinton and Hugh Laurie), a Disney Searchlight Pictures film, has already opened in the U.K. to great reviews, and was set to open in the U.S. in May 2020, but has been pushed to August 14^th. The New Mutants, an offering in the X-Men franchise, directed by Josh Boone under 20^th Century Studios, was due out in April 2020, but has been set now for August 28^th. Ralph Fiennes’ The King’s Man, also a Disney 20^th Century Studios film and part of the Kingsman franchise, kicks off September 18. And in perhaps the biggest push back, Jungle Cruise, loosely based on the Disney theme park ride and starring Emily Blunt and Dwayne Johnson, was moved from Summer 2020 to July 30, 2021 – as in Summer 2021- in the reshuffles. Perchance it can compete with Guardians of the Galaxy Vol. 3, originally rumored to release in 2020, but now listed as a “TBD” date.

For now, maybe we should consider all of the grand opening dates tentative at best.

As for us, I believe Raiders of the Lost Ark is up next for pop-up drive-in viewing.

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Beth Keating is a regular contributor to DisneyBizJournal.

Guess Who Just Rehired James Gunn?

by Ray Keating

News

DisneyBizJournal.com

March 15, 2019

News just broke from Deadline.com that the Walt Disney Company has rehired James Gunn to direct Guardians of the Galaxy 3.

That’s completely justified. DisneyBizJournal looked at the Gunn firing back in July, and concluded: “Disney should rehire Gunn for Guardians of the Galaxy 3, and at the risk of stating the obvious, free speech and redemption matter deeply to each one of us.”

So, now Gunn is lined up to direct a new Suicide Squad movie for Warner Bros and DC, and then Guardians 3 for Disney/Marvel. Fans of quality superhero films should rejoice.

Investors should be happy as well, given that Guardians of the Galaxy raked in $773 million at the box office, and Guardians of the Galaxy 2 $864 million, according to BoxOfficeMojo.com.

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels, with three books - Reagan Country: A Pastor Stephen Grant Novel, Heroes and Villains: A Pastor Stephen Grant Short Storyand Shifting Sands: A Pastor Stephen Grant Short Story– published in 2018. In addition, the second edition of Warrior Monk: A Pastor Stephen Grant Novelwas published in January 2019. He can be contacted at raykeating@keatingreports.com.