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Lone Ranger a $190m loss for Disney

2013-07-10 08:18
Johnny Depp The Lone Ranger

Los Angeles - Disney could lose $190m on The Lone Ranger.

The big budget Western film starring Johnny Depp and Armie Hammer has significantly underperformed around the world since its release last week, despite its A-list leading man and a $250m budget, and analysts predict the movie studio stands to make a huge deficit on the blockbuster.

The film - which is based on a 1930s radio show and 1950s TV show of the same name - grossed just $48.9m in its opening weekend in the United States, settling for number two on the box office chart behind animated hit, Despicable Me 2. Meanwhile, the film has also had slow starts in other countries including Australia and Russia.

'Weekend's lone misfire'

Analysts had originally predicted that Disney could lose $150m on the project, but that number has since been escalated.

Financial expert Barton Crockett of Lazard Capital Markets told The Hollywood Reporter: "Many investors had been skeptical about Disney's Lone Ranger reboot. They were right. It was the weekend's lone misfire, and based on our math, could be pacing for a $190m write-off."

The film's low numbers have led to comparisons between it and Disney's 2012 failure, John Carter, which cost over $250m and lost the company $200m.

Disney had hoped to launch another hit franchise with The Lone Ranger by re-teaming star Johnny Depp - who plays Native American spirit warrior Tonto opposite Hammer's eponymous character - with Pirates of the Caribbean producer Jerry Bruckheimer and director Gore Verbinski.

As well as its massive $250m budget, the film also commanded a further $175m for marketing.

Analysts are expecting the film - which has yet to open in some countries, including the United Kingdom - to achieve just $275m worldwide at the end of its theatrical run. That is a stark contrast to the $1 billion the last Pirates movie - On Stranger Tides - made in 2011.


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