Tom Cruise’s Mission Impossible ‘7’ and Harrison Ford’s Indiana Jones ‘5’, have fallen short at the box office this season, losing an estimated $100 million.
Tom Cruise’s “Mission: Impossible – Dead Reckoning Part One” and Harrison Ford’s “Indiana Jones and the Dial of Destiny” have both raked in substantial international box office earnings, with the former surpassing $523 million and the latter reaching $375 million.
However, these numbers are significant considering that both films had hefty production and marketing costs, each estimated at around $300 million for production and at least $100 million for promotion.
The impact of the COVID-19 pandemic on the film industry is noted, as it contributed to inflating the budgets of these movies. Despite the challenges, they are expected to break even and potentially turn a profit, especially with income from global box office sales and in-home entertainment options.
#MissionImpossible is the #1 Movie in the WORLD! Don't miss the most exciting ride you'll have this summer.
— Mission: Impossible (@MissionFilm) July 17, 2023
Disney CEO Bob Iger emphasized the importance of franchises in their earnings report, noting how these big-budget films generate interest in their existing content. Streaming services like Disney+ play a role in this strategy, as they continue to attract viewers with popular franchises like “Guardians of the Galaxy,” “Avatar,” and “Indiana Jones.”
Analysts suggest that the long-term profitability of these films, through streaming and other sales, is a strategic focus for studios, emphasizing a “long game” approach rather than immediate profitability.
The success of the more cost-effective film “Barbie,” which only had a production budget of $145 million but achieved significant box office success, highlights the importance of efficient budgeting in achieving substantial returns.
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