If you’re Universal, 2019 can’t end fast enough. Though the year started off great with hits like “Glass” and “Us,” the studio found itself in the worst-case scenario situation with one of its most highly-anticipated films of the year — “Cats.” Not only did the trailers for the film become the laughing stock of the internet, the film itself (somehow) became an even bigger joke, with reviews turning into a competition for who could dunk on director Tom Hooper harder. And now, as the film exits its second box office weekend, Universal knows that worst of all, “Cats” is going to be a big financial black eye.
According to Deadline, it’s expected that “Cats” will lose at least $70 million for Universal after everything is all said and done, not just at the box office but also when you incorporate the ancillary money from rentals and Blu-ray purchases. And honestly, when you look at the numbers, it would appear that $70 million is generous.
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The projection is based on the idea that “Cats” will earn $100 million worldwide at the box office, and another $55 million from home video rentals, premium cable/TV licensing, and other miscellaneous revenue. So, that means that “Cats” is projected to bring in about $155 million for Universal. Unfortunately, when you factor in the cost of prints and advertising for the theatrical release and eventual home release, the cost is up there around $225 million, leading to the $70 million loss.
And while the Deadline analysis is always pretty strong, it’s clear that the outlet is being quite generous when it comes to the film’s theatrical projection. Right now, after two weekends, the film sits at a domestic total of $17.8 million and an international total of $20 million. The projection is that the film will earn $40 million domestic and $60 million internationally, which seems to be…well, optimistic. So, if you’re a betting person looking at an over/under of $70 million loss for Universal, I’d venture to guess that the “over” is the winning bet.
READ MORE: Jason Derulo Slams Critics For Negative Reviews Of ‘Cats’: “What The Hell Do They Know?”
Of course, in the grand scheme of things, when films cost hundreds of millions of dollars and earn hundreds of millions of dollars back at the box office, a loss of $70 million (more or less) isn’t going to bankrupt Universal. But the performance of “Cats” will definitely make the executives think twice before spending excessive amounts of cash on a musical just because it was a Broadway hit.
And maybe, this is a cautionary tale that not all Intellectual Property is worthy of the film/TV treatment.
