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Tuesday, Feb 7, 2023

Disney Could Lose $140 Million on ‘Tomorrowland’

Walt Disney Co. may take up to a $140 million write down on its latest live-action release “Tomorrowland,” according to media reports on Wednesday. The sci-fi adventure movie from the Burbank entertainment and media giant has brought in about $77 million domestically since its release Memorial Day weekend. The film, starring George Clooney, has a global box office gross of $170 million, below its estimated budget of $190 million. Still, sources told the Hollywood Reporter that “Tomorrowland” will lose between $120 million and $140 million by the time it finishes its global rollout. That would make the film the first financial failure for Disney since “The Lone Ranger” prompted a $190 million write down in 2013. The previous year the studio took a $200 million loss on the flop “John Carter of Mars.” Analysts were not concerned that the loss will bring long-term impacts to Disney’s finances considering it has a new Pixar movie, “Inside Out” coming out this month, followed by Marvel property “Ant Man” in July and the new “Star Wars” film in December, the Reporter story said. “Disney will do just fine this year,” analyst Eric Handler of MKM Partners was quoted by the trade publication. Shares closed up $1.48, or more than 1 percent, to $110 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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