Disney declares John Carter a $200 million flop
Story by Jack Foley
DISNEY has officially written off John Carter as a flop.
The company announced Monday that it intended to write down $200 million as a result of the box office under-performance of the film, which follows a Civil War-era soldier who finds himself inexplicably transported to Mars and having to battle a variety of space aliens.
A statement issued read: ““In light of the theatrical performance of John Carter ($184 million global box office), we expect the film to generate an operating loss of approximately $200 million during our second fiscal quarter ending March 31.
“As a result, our current expectation is that the studio segment will have an operating loss of between $80 [million] and $120 million for the second quarter.”
While the write off was widely anticipated by most pundits, the exact number has taken them by surprise given that even the worst-case scenario prediction had suggested Disney was in line to lose $165 million on the project.
But the $200 million assessment by Disney means that during the period ending March 31, the studio will post a loss of $80 million to $120 million during this second fiscal quarter.
Ironically, during the same quarter a year ago, Disney reported an operating profit of $77 million.
John Carter‘s flop status comes on top of the poor performance of Mars Needs Moms (one of 2011’s worst performers) and the disappointment of Prince of Persia: The Sands of Time and The Sorcerer’s Apprentice.
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