By After a streak of box-office failures over the past few months, it comes as little surprise that Lionsgate’s quarterly earnings report today was not a happy one.
Lionsgate CEO Jon Feltheimer specifically addressed the biggest of these failures – the poor box office performance of the critically reviled film adaptation of the “Borderlands” video games.
Finally released in August after being initially shot three years ago, the $110-120 million budgeted film grossed just $31 million worldwide at the box-office.
Feltheimer didn’t mince works when it came to talking about it:
“On Borderlands, nearly everything that could go wrong did go wrong. It sat on the shelf for too long during the pandemic, and reshoots and rising interest rates took it outside the safety zone of our usually strict financial models.”
He also spoke about some other failures like “The Crow” reboot, “The Killer’s Game” and distribution of Coppola’s costly “Megalopolis”. Of those he said:
“Though cushioned by financial models that worked as intended, didn’t live up to either our standards or our projections” and adds that this reflects the current cinemagoing environment where there is “less margin for error than ever before”.
The comments follow Take-Two CEO Strauss Zelnick earlier this week saying that while the “Borderlands” movie was disappointing,” it did help sell more “Borderlands” games.
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