DreamWorks May Lose Nearly $50 Million On ‘Rise Of The Guardians’
DreamWorks Animation may lose approximately $50 million on the animated family adventure Rise of the Guardians, according to Cinema Blend.
Although the film has received mostly favorable reviews from a number of top critics, audiences have failed to connect with this particular endeavor. Not even the appeal of watching Santa, the Easter Bunny, the Tooth Fairy, and the Sandman fight evil was enough to draw people into theaters.
According to The Wrap, an anonymous DreamWorks executive revealed that the studio stands to lose $50 million dollars as a result of the picture’s poor performance at the worldwide box office. Those who were hoping to see another installment may not want to hold their breath.
Ben Mogil, analyst for Stifel Nicolaus, changed his rating on the animation studio’s stock from “hold” to “sell.” He also remarked that family films being predictable box office hits could be a thing of the past.
“What we take from this ‘Guardians’ experience is that where once there was an implied domestic box-office floor on a movie from the company, particularly in the 3D era, of $150 million, that is no longer the case,” Mogil wrote in a recent note to investator.
He added, “Also clearly no longer the case is the mantra that the lack of competing animated titles will automatically grant a movie clear box office sailing.”
According to Box Office Mojo, the film’s domestic total presently stands at $48 million. On an international level, Rise of the Guardians has pulled in $57 million. Although the film is likely to start making its money back when it reaches DVD and Blu-ray, DreamWorks is still bracing for the worst.
Despite the stumble, the studio has a number of animated features currently in the works. In addition to How to Train Your Dragon 2, DreamWorks animation is presently working on another sequel to its hit series Kung Fu Panda starring Jack Black.
Are you a fan of Rise of the Guardians?