The Lone Ranger could end up costing the folks at Disney a staggering $190 million.
Earlier estimates suggested the studio would end up eating a loss of around $150 million. However, industry insiders have since updated their predictions since the first reports were released. It would seem Disney is in worse shape than some originally believed.
According to TV3, Gore Verbinski’s adaptation of the TV series only brought in around $50 million during its first five days of release. As a result, the studio could end up losing $190 million on the deal.
“Many investors had been skeptical about Disney’s ‘Lone Ranger’ reboot. They were right. It was the weekend’s lone misfire, and based on our math, could be pacing for a $190 million write-off,” Lazard Capital Markets financial expert Barton Crockett explained to The Hollywood Reporter.
Unfortunately for everyone involved with The Lone Ranger, the flick failed to catch fire at the overseas box office. Some believed the movie could rebound on the strength of star Johnny Depp’s popularity. However, it would seem even foreign moviegoers were turned off by the adaptation.
The numbers posted at Box Office Mojo show that Verbinski’s film only generated approximately $24 million overseas. This isn’t too far away from the small chunk of change the movie made Stateside. The fate of the Lone Ranger and his sidekick Tonto doesn’t look too good at the moment. This could be the biggest bomb of 2013.
“‘The Lone Ranger’ opened to only $48.9 million for the full period, versus the $60 million vicinity that had been expected prior to this week. Even with some benefit from Johnny Depp overseas, the Jerry Bruckheimer-produced film is now apt to generate a $150 million vicinity write-off for Disney — still less than John Carter’s $200 million,” Crockett told THR.
While the film could make a few extra dollars when it arrives on home video, it’s doubtful the studio will be able to recover most of the money they sunk into the ill-fated motion picture. It remains to be seen what this flop will do to Johnny Depp and Armie Hammer’s careers going forward.
Are you surprised that The Lone Ranger lost $190 million at the box office?
[Image via Buena Vista / Disney]