News

‘Lone Ranger’ ambushed at box office

‘Lone Ranger’ ambushed at box office

Photo: Reuters

By Ronald Grover and Lisa Richwine

LOS ANGELES (Reuters) – “The Lone Ranger,” Walt Disney Co’s big-budget western starring Johnny Depp, performed below expectations on Wednesday night, raising the possibility that the movie could saddle the media giant with a loss on the film.

The film, which cost an estimated $225 million to produce, generated $9.7 million during Wednesday showings, falling well behind “Despicable Me 2” from Comcast’s Universal Pictures, which sold $34.3 million at the domestic box office, according to studio estimates.

Both films opened with limited showings on Tuesday. For the two-day period, “Despicable Me 2” generated $39 million and “The Lone Ranger” saw $11.7 million.

Disney estimates “The Lone Ranger” will sell $45 million for the Wednesday through Sunday July Fourth holiday weekend, below industry experts’ initial forecasts of $60 million to $70 million over the five days.

“If it does end up grossing less than $50 million over the five-day stretch, it will most certainly go down as a misfire,” said Jeff Bock, senior box office analyst for Exhibitor Relations, which tracks movie box office prospects.

The film’s poor opening is a black eye for producer Jerry Bruckheimer, director Gore Verbinski and star Depp, the trio behind Disney’s ultra-successful “Pirates of the Caribbean” series.

Disney made their prior success a key part of marketing the current film, and Depp’s international appeal still could help the film’s overseas box office.

“The Lone Ranger” is an action remake of a 1930s radio show and television series in the 1950s. Armie Hammer plays John Reid, the lawman who dons a mask to fight injustice in the Old West. This time, though, it is the Lone Ranger’s Native American sidekick Tonto, played by Depp, who takes center stage.

Critics have not embraced the movie. Among 110 reviews compiled on the Rotten Tomatoes website on Wednesday, just 25 percent recommended the film.

Gitesh Pandya, editor of the website Box Office Guru, estimates the film will generate $100 million in domestic ticket sales.

A $60 million opening over its first days would have generated a modest profit, according to Tony Wible, a managing director of Janney Montgomery Scott who follows Disney.

With that opening, he estimated the film would generate $180 million in domestic ticket sales and give Disney total revenues of $370 million from foreign, video and other sales.

Studios and theaters generally share box office receipts.

Disney spent $225 million to make the film and an estimated $100 million to market it.

A Disney spokesperson was not available for comment on the studio’s outlook for the film’s profitability.

“The Lone Ranger” is the latest entry in Disney’s strategy of spending more on fewer films to build franchises from big budget movies that can generate continued revenues from sequels, merchandise and outlets like its theme parks and TV properties.

The company found such success with Marvel superhero films “The Avengers” and “Iron Man 3,” and with Pixar’s “Monsters University,” but wrote down $200 million when sci-fi epic “John Carter” flopped last year.

The studios will update the box office results over the weekend.

(Reporting by Ronald Grover and Lisa Richwine; Editing by Eric Beech and Jackie Frank)

Latest Headlines

8 hours ago in Local

Mother Gives Birth in Bath Supermarket Parking Lot

GENERIC BABY IN CAR SEAT

Emergency medical personnel successfully delivered a baby girl in the parking lot of a supermarket in southern Maine.

10 hours ago in Local

Bill to Limit Use of Video Cameras at Polls Wins Support

VIDEOCAM

A bill that would make it harder to use video cameras to intimidate voters is winning bipartisan support from Maine lawmakers.

11 hours ago in Local

Maine Man Sentenced to 45 Years for Pipe Beating Death

JASON COTE MUG

A judge has imposed a 45-year prison sentence on a Maine man convicted in the pipe-beating death of another man in 2013.

11 hours ago in Local

Maine Man Charged in Father’s Death Pleads Guilty

COURT GAVEL

A Maine man who told detectives he got drunk, didn't take his medication and does not remember fatally shooting his father has pleaded guilty to manslaughter.

12 hours ago in Local

Man who Defrauded more than 12 Banks, Businesses Sentenced

MONEY PILE LARGE SIZE

A federal judge has sentenced an Augusta man to more than two years in prison for defrauding more than a dozen banks and businesses by using altered and counterfeit checks.

Tweets

  • 7h
  • 9h
  • 10h
  • 10h
  • 29h
  • 32h
  • 32h