The recent opening weekend of “Joker: Folie à Deux” did not meet expectations. The sequel to the 2019 hit “Joker” by Warner Bros. only grossed $40 million at the domestic box office, falling short of industry projections of $50-60 million. This is a significant drop from the original movie’s nearly $100 million opening and over $1 billion global gross. With a production budget of around $200 million, three times that of the original, “Joker: Folie à Deux” is turning out to be a critical and financial disappointment for Warner Bros. Discovery, especially considering the tens of millions spent on marketing. According to Jeff Goldstein, the president of domestic distribution at Warner Bros., the movie did not resonate with audiences as expected. This underperformance adds to the challenges faced by Warner Bros. Discovery, whose stock has been affected by various factors, including a write-down on the value of its cable networks and concerns about its long-term strategy. Additionally, the loss of NBA rights by the TNT Network has dealt a significant blow to the company.
Warner Bros. Motion Picture Group recently experienced a mix of success and disappointment with their latest releases. The highly anticipated sequel “Beetlejuice Beetlejuice” proved to be a hit, following up on the 1988 classic. However, “Furiosa: A Mad Max Saga,” “The Watchers,” and “Trap” failed to meet expectations, leaving the studio with some setbacks.
In the upcoming “Joker” sequel, Joaquin Phoenix, reprising his role from the original film, is set to be joined by Lady Gaga, portraying a groupie-turned-partner-in-crime. Despite the musical element being a significant part of the film, the studio opted to downplay it in their marketing campaigns. This decision has sparked some discussion, as the first “Joker” resonated strongly with male audiences, while the sequel is said to delve deeper into mental illness, potentially challenging some viewers’ expectations.
The Washington Post’s review characterized the film as a rare example of a blockbuster movie that “consciously self-destructs and tries to take its audience along.” Additionally, market research firm CinemaScore gave the movie a D, marking it as the lowest-rated comic book-inspired film by the organization.
Sequels often come with higher production costs, and the addition of Lady Gaga to the cast, along with the decision to shoot in Los Angeles, contributed to an increased price tag for this particular film. Looking ahead, Warner Bros. has a lineup of movies set for release later this year, including the Clint Eastwood-directed legal drama “Juror #2” and the animated “Lord of the Rings: The War of the Rohirrim” from its New Line Cinema label.
Overall, the film industry has seen a decrease in domestic grossing, with films released so far this year accumulating $6.44 billion, which is 11% less than the same period last year.