Warner Bros. had anticipated "Joker: Folie à Deux" to be another standout in the comic book movie genre, following the massive success of its predecessor. However, the sequel to 2019’s record-breaking "Joker" has become a financial disappointment.
After two weeks in theaters, the unconventional musical centered around Batman’s infamous enemy has made only $51.5 million domestically and $165 million globally. In comparison, the original "Joker" earned $96.2 million domestically and $248.4 million globally within its first three days. Projections suggest the sequel will struggle to hit a domestic lifetime gross of $65 million and a global total of $210-215 million.
This shortfall poses a serious issue given that "Joker 2" had a production budget of $200 million, plus an additional $100 million allocated for marketing and distribution. To break even, the movie would need to generate around $450 million in box office revenue, factoring in the split between theaters and studios. Warner Bros. insiders estimate that the film could break even at $375 million, but current box office trends suggest losses of $150 million to $200 million.
While Warner Bros. might recoup some of their investment through post-theatrical releases, the movie’s weak box office performance is a stark contrast to the original "Joker," which amassed $335 million domestically and over $1 billion worldwide. The original film's profitability, partly due to its relatively low $65 million budget, made it one of the most successful comic book adaptations of all time. Despite the previous success, "Joker: Folie à Deux" struggled with a ballooned budget, largely due to hefty payouts to returning director Todd Phillips and star Joaquin Phoenix, both of whom earned $20 million upfront. Additionally, Lady Gaga, who portrayed Harley Quinn, was compensated with $12 million.
David A. Gross, from Franchise Entertainment Research, noted that while the first "Joker" stood out as a fresh, countercultural take on superhero films, the follow-up tried to innovate too much, introducing a romantic subplot with Lady Gaga that didn’t resonate with audiences. The landscape for comic book films has also changed significantly since the first "Joker." Once virtually immune to box office failure, superhero films are now struggling to attract audiences, as evidenced by "Joker: Folie à Deux," along with other 2023 disappointments like "Aquaman and the Lost Kingdom" and "The Marvels." Both of these films, also sequels to billion-dollar hits, failed to reach their predecessors' success.
As superhero fatigue sets in, the genre no longer guarantees box office success, and audiences are growing less forgiving of films that don't offer a fresh, engaging narrative.
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