The Tom Cruise-led, Alejandro Inarritu-directed “Digger” is reportedly on track to be the year’s biggest bomb, with loss estimates at around $150 million according to Deadline.
The title is on track to haul in $8 million domestically and $12 million overseas in its first weekend – a global start of just $20 million. That is Cruise’s lowest opening in nineteen years, and box-office experts indicate the film will struggle to reach a global gross of $50 million.
More concerning is the cost. The film reportedly hit a net production budget of $160 million (which includes UK tax credits), combined with a nearly $100 million global P&A spend. Factor in some ancillary costs and they put the bill for Warner Bros. at a total of $275 million.
Revenue-wise, they suggest the film will garner $127 million – assuming that box-office makes it to near $50 million and that a quick PVOD release will get curious people buying/renting. That will also get revenue from theatrical rentals, airline monies, domestic home streaming, PVOD and international TV, etc.
Thus, the net result will be a $148 million loss – and that assumes the film will perform better on home video than theatrically. If it doesn’t, the number could go higher.
The film is being pegged as the last of former Warner chiefs Mike DeLuca and Pam Abdy’s regime, one which opened to a similar high-profile bomb with “Joker: Folie a Deux” but was dominated by numerous major auteur-driven and franchise success stories from “Sinners” and “The Conjuring: Last Rites,” to “A Minecraft Movie” to “One Battle After Another”.
