Warner Bros. should really pray some other release exceeds expectations monumentally to save them the hit from Pan bombing at the box office.
According to a new report by The Hollywood Reporter, the movie might actually land the studio a $150 million dollar loss. It was admittedly a major gamble for Warner Bros. and it has anything but paid off. The report suggests that the losses could range anywhere from $130 million to 150 million. The predictions are set on the dismal $15.3 million in North America in the first weekend i.e Oct. 9-11. It only seems downhill from here as the critics have also given their verdict and that's likely to only discourage audiences from heading out to the theater to watch this new telling of the Peter Pan fable.
The report also reveals that the studio did have a hint of the fact that this movie might tank which also explains pushing its release date from July to October. MKM partners analyst Eric Handler spoke about to THR about how it's generally been a rough year for Warner: "It's been a rough year for Warner Bros., but look at what they have next year between Batman v Superman: Dawn of Justice, Suicide Squad and Harry Potter spinoff Fantastic Beasts."
Pan stars Hugh Jackman and Rooney Mara and was directed by Joe Wright.
Here are some of the reviews for the movie:
"Through most of Pan, young Peter (Levi Miller) is brothers-in-adventure with the older James Hook (Garrett Hedlund), and remains so to the end of the movie. Hook never turns evil, nor does he lose his hand, and the film concludes with the greatest fright of all: maybe another Peter Pan movie is in the pipeline, to fill in the rest of the backstory before we get to the JM Barrie original." -- Guardian
"Here he (Joe Wright) takes an actual magical children's tale and imbues it with the most hackneyed of contemporary fantasy-action tropes, and the inverse combination does not possess nearly the same thrill. It's also odd how little fun screenwriter Jason Fuchs has reimagining this universe; even the pairing of future adversaries Hook and Peter fails to pan out in any memorable ways." -- Variety
"Alas, the approach here is less "classic fable" and more "patchwork blockbuster." Updated from Barrie's Victorian milieu, the action starts during WWII, with scrappy Peter (Levi Miller) regularly tussling with the dictatorial nun (Kathy Burke) who runs his orphanage. Boys have been going missing at night, and Peter wants to investigate. He doesn't have to look too long, however, for soon enough he himself is abducted - by pirates who plunge down on bungee cords and whisk the kids away, to a flying pirate ship hovering above the London skyline alongside the barrage balloons of the Blitz." -- Vulture