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“Godzilla versus. Kong ‘on the verge of profiting from the box office pandemic: here’s how – Deadline

Here’s something no one expected during the global box office pandemic: an event movie that can only benefit.

Film funding sources told us that as legendary Godzilla vs. Kong shots $ 357.8M WW Today the picture is already set to bring money back to Warner Bros. – an estimation $ 96.4M currently – even with the controversial HBO Max campaign element in the mix, although that part is a bit opaque. This is an impressive feat considering that BO’s major offshore markets in Europe (except Spain) and Brazil are still closed by Covid-19, and the fourth, led by Adam Wingard , collects only 25% of the Chinese box office.

AP

By separating the numbers from those in the know, Godzilla vs. KongThe company’s net cost of production was $ 160 million. Now remember, as part of HBO’s theatrical day and date deal, Warners reimbursed Legendary for its 75% share of the cost of production ($ 120 million) in order to secure full rights to the photo including china. Corrected: PRC is not a BO pot shared between Legendary and Warners, although the former does receive a distribution fee from the Burbank, CA lot. While Netflix reportedly offered Legendary $ 200 million for the rights to GvK, we hear that the financier’s deal with Warners was a full buyout of their costs on the fourth. There are no outstanding stakes or BO bounties as the Monster Mash movie accumulates more worldwide box office.

“Godzilla Vs Kong” is worth $ 358 million worldwide; ‘Mortal Kombat’ kicks off with $ 11 million overseas – Box Office international

Currently, rounded, GvK won $ 70 million at the national soundtrack The estimated rental of the studio is $ 35 million. However, it’s entirely conceivable that that figure will hit $ 45 million as the film is making $ 90 million in the US (and that’s with most of Canada still closed). For now, let’s count $ 35 million. Add to $ 41.4M from China (that’s 25% of its current BO $ 165.4M; the photo could go up to $ 180M), and currently $ 55 million in the offshore rentals of the remaining offshore territories (Russia, Mexico, Australia, Taiwan, India, Spain, Korea) which brought in $ 122.9 million. This brings the total worldwide rentals to date $ 131.4 million.

These numbers triggered the following revenue forecast for GvK: $ 60 million by Warner Bros. $ 65 million (after cost) domestic home entertainment, which includes PPV but not SVOD or HBO Max, and foreign home entertainment from $ 25 million net (after fees).

Now pay and free TV, which includes HBO Max, according to sources, is rated at $ 45M. As part of the WarnerMedia plan, HBO Max is set to shell out licensing fees for the 31-day concurrent rights to Warner Bros. theatrical to make up for any loss of money to the HBO Max soundtrack and Warner Bros has reportedly agreed to a floor for these costs: $ 10 million or 25% of the film’s net production cost, whichever is greater. In this case, that number is $ 40 million (out of $ 45 million). License fees would not derive from the value GvK creates for HBO Max in the form of subscriptions or pledges.

Last weekend, HBO Max claimed that the legendary title was the most viewed content in any given weekend on the streamer, and the third-party Samba TV streaming stats corp backed that up, saying GvK was watched by 3.6 million households on average for at least five minutes in the photo’s first five days, from March 31 to April 4.

Add up all the income, and it brings GvK at $ 326.4M. Subtract the production cost of $ 160 million and an estimated overall P&A of $ 70 million (because Europe and Brazil are not open), bringing the film’s current projected profit to $ 96.4M before off-the-tops, interest and overhead. The first one Godzilla by Legendary ranked in our 2014 Box Office tournament and grossed $ 52.4 million after $ 62.6 million in combined interest / off-the-tops / overhead and dividends. Even if this cost were applied GvK, the film would still be north of the breakeven point.

GvK is a great indicator that the box office is reborn after a year in which the exhibition suffered from the pandemic and lockdowns. But make no mistake: the movie could make more money here if the rest of the world was open and the title wasn’t on HBO Max in the US.

It’s Warner Bros. ‘Global theatrical marketing and distribution operations that should get a pat on the back from fellow WarnerMedia and AT&T for a job well done here.

Nancy Tartaglione contributed to this report

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