Tom Cruise’s “Digger” is projected to lose Warner Bros. about $250 million by the end of its run, even after post-theatrical revenue is counted, according to an exclusive report published Wednesday by TheWrap. The outlet described it as by far the biggest loss of Mr. Cruise’s career.
According to the report, executives at Skydance were shocked by the scale of the shortfall when the company was handed over this week. Skydance insiders told the outlet they do not expect the Alejandro G. Inarritu satire to gross more than $40 million worldwide. A Warner Bros. representative had no comment.
Earlier estimates were lower. TheWrap said previous reports put the loss near $125 million, and Deadline estimated about $148 million, according to Dark Horizons’ account of that analysis, which assumed a global box office near $50 million.
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The film opened with $8 million domestically and $12 million overseas, about $20 million worldwide, the Associated Press reported Sunday. TheWrap put the global opening at $21 million. The AP said at the time that the film cost at least $125 million to make, with other reports closer to $150 million.
TheWrap’s insiders gave higher figures. Multiple sources put the budget at $173 million, partly because of an unexpected insurance settlement, while another placed it at $163 million. Marketing cost about $100 million, mostly for Mr. Cruise’s global press tour, the outlet reported.
Not every estimate was as high. Another person familiar with the film’s finances told TheWrap the loss was likely between $200 million and $215 million, depending on premium video-on-demand performance, calling it “a shocking failure.”
Warner Bros. financed the film entirely, unlike projects such as “Dune” that often involve outside partners, leaving the studio to absorb the full loss. TheWrap reported that David Zaslav greenlit the film as the first under a new deal with Mr. Cruise for original and franchise projects. Mike De Luca and Pam Abdy, who led the studio’s film division, were dismissed by David Ellison, who put Paramount executives Dana Goldberg and Josh Greenstein in charge of overseeing film output for both Paramount and Warner Bros.
Critics gave “Digger” a 51% fresh rating on Rotten Tomatoes, and audiences gave it a C+ CinemaScore, the AP reported.
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