Joker: Folie à Deux has been left with absolutely nothing to smile about this weekend because, as we write this, Deadline believes it will open with $47 million or less in North America.
We'll have a better idea later today but the trade has also shared some fascinating insights into where things went wrong for a sequel to a movie which won Oscars and grossed over $1 billion in 2019.
After arguing that no one who watched Joker wanted a musical sequel, they argue that Warner Bros. Discovery's biggest misstep was premiering the movie at the Venice Film Festival last month. Because of that, Joker: Folie à Deux sat on Rotten Tomatoes for a month with middling reviews, so why showcase a mediocre - or downright bad - movie at such a high-profile event?
"Sources tell me it was all part of Warner Bros. appeasing Phillips," the trade writes, "which is why they allowed him to make this auteur-ish Stephen Sondheim-like feature in the first place. Between the Hangover franchise and Joker, Warner Bros. has reaped $2.5 billion off of Phillips’ fare at the box office. What do you do with a director whose done that much for you? Give him final cut."
Had the movie skipped Venice and been screened earlier this week (as is typically the case with high-profile comic book movies), it may have added a further $10 million to its opening weekend.
It's also revealed that Joker: Folie à Deux wasn't tested before being released and didn't go over budget with that reported $190 million - $200 million spend.
However, at least $50 million of that went to filmmaker Todd Phillips and stars Joaquin Phoenix and Lady Gaga.
In our review of the movie, we concluded by saying, "Lady Gaga shines and Joaquin Phoenix brings more of the same to Joker: Folie à Deux, a wholly unnecessary sequel with no new ideas and nothing to say. It doesn’t work as a movie or a musical. What a waste of $200 million."
Joker: Folie À Deux finds Arthur Fleck institutionalized at Arkham awaiting trial for his crimes as Joker. While struggling with his dual identity, Arthur not only stumbles upon true love, but also finds the music that's always been inside him.
The sequel 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 movie also features Oscar nominees Brendan Gleeson (The Banshees of Inisherin) and Catherine Keener (Get Out), alongside Zazie Beetz, reprising her role from Joker.
Joker: Folie À Deux is now playing in theaters.