Following a massive second-weekend drop, Joker: Folie à Deux is now officially being labelled a box office flop by the trades. In fact, the latest figures suggest that Todd Phillips' sequel could wind up costing Warner Bros. as much as $200 million before all is said and done.
So far, the downbeat musical has grossed $51.5 million domestically and $165 million globally, and Variety believes that the movie will likely stall at a lifetime gross of around $210M $215M worldwide. With a reported production budget of $200M (plus at least another $100 million to market and distribute), Joker 2 would need to gross $450 million just to break even.
It is worth noting that the studio is not ready to admit defeat just yet.
“Any estimates suggested by anonymous ‘insiders’ or ‘rival executives’ are grossly wrong and continues a trend where rumor is reported as fact,” a Warner Bros. spokesperson said in a statement. “The film 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.”
The studio does have the potential to recoup at least some of its costs when Folie à Deux lands on home entertainment platforms on October 29, but this has to be viewed as a disaster - especially when the first movie made over $1 billion worldwide and was just recently surpassed as the highest-grossing R-rated film of all time by Deadpool and Wolverine.
“If the filmmakers and studio were committed to making a sequel — and why wouldn’t they be after the first film made $1.08 billion — they faced a very difficult challenge of telling a new chapter that kept the audience engaged,” says analyst David A. Gross of movie consulting firm Franchise Entertainment Research.
“The first Joker was a timely, fresh counterpoint to the dominant superhero narrative and tone, and it worked,” Gross added. “The filmmakers deserve credit for making more unconventional creative choices in Folie, but this time nothing worked.”
From acclaimed writer/director/producer Todd Phillips comes Joker: Folie À Deux, the much-anticipated follow-up to 2019’s Academy Award-winning Joker, which earned more than $1 billion at the global box office and remains the (second) highest-grossing R-rated film of all time.
The new film stars Joaquin Phoenix once again in his Oscar-winning dual role as Arthur Fleck/Joker, opposite Oscar winner Lady Gaga (A Star Is Born). The film also stars Oscar nominees Brendan Gleeson (The Banshees of Inisherin) and Catherine Keener (Get Out, Capote), alongside Zazie Beetz, reprising her role from Joker.
The movie is rated R for “some strong violence, language throughout, some sexuality, and brief full nudity.”
Do you plan on seeing the Joker sequel in theaters, or have the reviews put you off? Let us know in the comments section down below.