THR's claims that a Green Lantern sequel was all go at WB may have been premature, as the site posted the following update..
While a top studio source told THR on Sunday that Warners was proceeding with plans for a follow-up film, a studio spokesman said Monday that no decision has been reached.
The reason that they haven't committed is of course Box Office.
Green Lantern didn't do as well as expected and received a pretty tepid response from many critics and fans. If WB are going to move on a sequel they must first see what kind of total gross justifies one. Also, as THR report, even more money was spend on the first movie that you might think!..
Green Lantern had a budget well in excess of $200 million, according to industry sources, as well as an outsized marketing spend estimated at $100 million domestic and $75 million foreign. A source with ties to the studio says it is reasonable to assume that Warners has spent well over $400 million on the film--not unusual for a summer tentpole—making profitability a steep uphill climb.
The movie is still generating revenue overseas, but is not expected to exceed $270 Million in world wide gross. Will WB be able to get a sequel rolling based on this? Should they? maybe it's time a lesson was learned. They were so sure that they had a new cash cow on their hands that a script for a sequel was already being worked on before the first movie was even released. Shame they didn't spend more time making sure the launching pad for this potential franchise was up to scratch.
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