Disney made an estimated $296.4 million loss at the box office on just two of its Marvel superhero movies in 2023 according to analysis of recently-released financial statements.
They reveal that the cost of making The Marvels and Ant-Man and the Wasp: Quantumania came to a staggering $762.4 million (£609.3 million) before Disney banked $124.9 million (£99.4 million) in government incentives bringing its net spending on the movies down to $637.5 million. They both bombed at the box office.
According to industry analyst Box Office Mojo, the movies grossed a combined $682.2 million with theaters typically retaining 50% of the takings and the remainder going to the studio. This reflects the findings of film industry consultant Stephen Follows who interviewed 1,235 film professionals in 2014 and concluded that, according to studios, theaters keep 49% of the takings on average. It would give Disney just $341.1 million from The Marvels and Ant-Man and the Wasp: Quantumania. No expense was spared on them.
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Disney does not publicly discuss how much it spends on specific productions and did not respond to a request for comment. Budgets are usually a closely-guarded secret. This is because studios combine the costs of individual pictures in their overall expenses and their filings don’t itemize how much was spent on each one. Films made in the UK are exceptions and both The Marvels and Quantumania fall into this category.
Studios shoot in the UK to benefit from its Audio-Visual Expenditure Credit (AVEC) which gives them a cash reimbursement of up to 25.5% of the money they spend in the country.
To qualify for the reimbursement, at least 10% of the production costs need to relate to activities in the UK. In order to demonstrate this to the UK government, studios tend to set up a separate production company in the country for each movie they make there.
The companies have to file financial statements which shine a spotlight on their budgets. They reveal everything from the headcount and salaries to the level of reimbursement and the total costs. Studios directly receive the revenue from theater tickets, streaming and Blu-ray sales and carry the costs of marketing as the function of the UK companies is purely making the movies.
A) Ant man is such a stupid movie. “He keeps his same inertia even though he’s tiny” <Grown man proceeds to walk on people with no apparent physical effect>
B) Never trust Hollywood accounting
The physics never make sense. Iron Man should be a pink smoothie in a can. Hulk generates mass from nothing and sheds it back to nothing when he changes. Spiderman should be pulling drywall off the studs. Vibranium makes zero sense, either as a shield or as a suit or really any other time. 90% of the fighting Hawkeye and Black Widow do is absurd and would leave their bones shattered.
Thor is all magic, so that gets a pass, but you can’t throw a hammer and the get dragged behind it, and then change directions midair. Thor is flying because magic, let’s just leave it at that.
And it’s not just the MCU. Superman can’t catch a plane by the nose. Batman can’t launch a grapple hook while he’s falling and prevent his death.
Aragorn can’t toss Gimli that far. Luke’s X-Wing doesn’t bank through air in space. The USS Enterprise wouldn’t always be oriented to be upright with everything. James Bond can’t just recover from all those concussions and venereal diseases without brain damage. Indy can’t ride out a nuclear explosion in a fridge.
You had me until the toss, because Aragorn definitely can toss a dwarf that far, but the rest? All made up.