The much-anticipated sequel to the 2019 blockbuster, "Joker: Folie à Deux," is projected to lose between $150 million to $200 million following a disappointing performance at the box office.
What Happened: The film produced by Warner Bros. WBD, has grossed $51.5 million domestically and $165 million globally after two weeks of release, reported Variety.
This is a stark contrast to the first "Joker" movie, which had generated $96.2 million domestically and $248.4 million globally after just three days of release.
See Also: Elon Musk's X Reaches Agreement With Unilever, Drops It From Ad Boycott Lawsuit: 'First Part Of The Ecosystem-Wide Solution'
The sequel, which cost $200 million to produce and an additional $100 million to market and distribute, is not expected to reach the $450 million needed to break even in its theatrical run.
Insiders and rival executives estimate that the film could lose its backers just north of $200 million, the report noted.
Despite the disappointing performance, a Warner Bros. spokesperson stated that the film continues to play in theatrical release and will continue to earn revenue throughout its home viewing and ancillary run.
The film is set to land on home entertainment platforms on Oct. 29.
Why It Matters: The sequel's departure from the dark and gritty tone of the original "Joker" movie to a more musical approach may have alienated the DC fan base, contributing to the significant drop in sales.
The film saw Joaquin Phoenix reprise the titular role and bring in musician and actress Lady Gaga as Harley Quinn.
It opened with $40 million at the domestic box office and $81.1 million in international markets for $121.1 million in worldwide box office revenue.
This underperformance is no laughing matter for Warner Bros., as it could significantly impact their stock.
Warner Bros. has faced challenges with its superhero franchises in recent years, despite owning iconic characters like Batman and Superman.
Although some films have achieved blockbuster status, the studio has not matched the success of competitor Walt Disney Co. DIS, which transformed Marvel into a leading film franchise and a consistent box office powerhouse.
Photo Courtesy: Loredana Sangiuliano On Shutterstock.com
Read Next:
Elon Musk's SpaceX Was Once Called A Dream Seller By This Potent Rival, Now Pierre Ferragu Warns Companies Never To Underestimate Underdog Innovators Like Nokia And BlackBerry Did
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs