Fox Blames Revenues Fall On Fantastic Four Failure
Fox saw a drop in its quarterly earnings for Q1, and much of the blame is being placed on [...]
Fox saw a drop in its quarterly earnings for Q1, and much of the blame is being placed on Fantastic Four.
The 20th Century's Fox parent company saw revenue decrease by 6% to $6.08 billion. Profits were $678 million, down more than $1 billion from this quarter last year.
Josh Trank's Fantastic Four was meant to be Fox's summer tent pole and reboot the flagging film franchise. It failed on all fronts, grossing less than $170 million worldwide and losing $80 million for the studio.
"Our quarterly results also reflect the expected impact of challenging comparisons for our film studio due to the timing of key releases, as well as the poor performance of The Fantastic Four," said Executive Chairman Rupert Murdoch.
The bad timing is in reference to The Martian. The film is a big success for Fox, but, because of its October release date, the film's advertising budget was subtracted from the company's earnings, while the film's profits were not factored in.
Fox's other summer releases – The Maze Runner: The Scorch Trials and Paper Towns – did decently at the box office, but not well enough to cover the losses accrued by Fantastic Four.
You can see how Fantastic Four stacks up to other comic book movies in ComicBook.com's Top Grossing Comic Book Movies list.
Despite all of this, Fox is still planning to push forward with the sequel. Check out when Fantastic Four 2 and other movies are coming out in ComicBook.com's Movie Release Schedule.
Via The Wrap
