Warner Bros. Discovery’s Recent Film Challenges
During a recent earnings call, Warner Bros. Discovery CEO David Zaslav highlighted the inconsistency in the company’s film business, pointing to the performance of “Joker: Folie à Deux” as particularly disappointing. He emphasized that the variability in success rates of their films is a challenge that needs addressing. This notion of inconsistency had been felt throughout the year with films like “Dune 2” and “Godzilla x Kong” being successful, while “Furiosa: A Mad Max Saga” failed to impress at the box office. Other releases, such as “Beetlejuice Beetlejuice” and “Twisters,” performed adequately but did not replicate the success of last year’s hit “Barbie.”
Disappointing Box Office Performance
“Joker: Folie à Deux” opened with a domestic box office of $37.8 million, significantly lower than the first “Joker” film’s $96.2 million debut. Unfortunately, the film’s fortunes did not improve, as it dropped to $7 million in its second weekend, falling to the third position in box office rankings as “Terrifier” took the top spot. The film was quickly released on DVD and Blu-Ray, less than a month after its initial release.
Mixed Critical Reception
While some critics were not impressed with “Joker: Folie à Deux,” labeling it as a missed opportunity and critiquing its attempt as a movie musical and courtroom drama, not all feedback was negative. Renowned director Quentin Tarantino expressed appreciation for the film, controversially describing it as a bold statement to Hollywood and comic book audiences. Additionally, game director Hideo Kojima speculated that the film’s reputation might improve over the years.
Financial Impact and Future Plans
Warner Bros. Discovery reported a Q3 revenue of $9.6 billion, marking a 3% decline from the previous year. The drop included a 40% decrease in theatrical revenue, attributed to the lower box office performance of “Beetlejuice Beetlejuice” and “Twisters” compared to “Barbie” the previous year. The financial impact of “Joker: Folie à Deux” will be assessed in the next earnings report. Despite challenges in the film sector, Warner Bros. Discovery’s streaming platform gained 7.2 million subscribers in the third quarter, signaling positive momentum in that area.