Warner Bros. Set to Lose Astonishing Sum of Money on ‘Joker 2’
Joker: Folie à Deux is set to lose hundreds of millions of dollars for Warner Bros., Variety reports.
Todd Phillips’ sequel, a musical courtroom drama which is as confounding as it sounds, is on track to lose the studio somewhere between $150 million and $200 million on its theatrical run, according to industry insiders. A few less bullish analysts say the movie will “only” lose closer to $125 million.
“Any estimates suggested by anonymous ‘insiders’ or ‘rival executives’ are grossly wrong and continues a trend where rumor is reported as fact,” a Warner spokesperson told Variety in a statement.
In its first two weeks of release, Folie à Deux has grossed just $51.5 million in the U.S. and $165 million in other territories. To compare, 2019’s Joker grossed $96.2 million domestically in its opening weekend alone. It went on to gross over $1 billion worldwide, including $335 million domestically. For a few years, until Deadpool & Wolverine overtook it a few months ago, Joker was the highest-grossing R-rated movie of all time.
Folie à Deux’s reception marks an astonishing reversal of fortune for the dark franchise. The first installment carried its share of controversy but was largely praised by critics. Joker 2 is having no such luck, with a measly 33 percent score on Rotten Tomatoes. It fared even worse with audiences, who rated it 32 percent on Rotten Tomatoes and damned it with a rare “D” grade on CinemaScore.
While the first Joker received 11 Academy Award nominations and won star Joaquin Phoenix a Best Actor trophy, there seems little chance the sequel will see any awards attention. Even the presence of awards-favorite Lady Gaga, who wrote and performed several original songs for the film, has done little to endear the film to insiders.
Warner Bros. noted in its statement that Folie à Deux “continues to play in theatrical release, included with this week’s opening in China, and will continue to earn revenue throughout its home viewing and ancillary run.”