Warner Bros. anticipates $245 million loss on underperforming "Digger"
"Digger" is projected to lose roughly $245 million after a steep drop in its second weekend, prompting Warner Bros. to adjust its financial expectations.
"Digger," the R-rated environmental satire starring Tom Cruise and directed by Alejandro González Iñárritu, opened to $8 million domestically and $20 million worldwide. Ticket sales fell 60 percent in the second weekend, bringing the total to $14.4 million in the United States and $35.3 million globally. Industry sources estimate the film will finish its theatrical run with about $50 million worldwide, far short of the $300-$350 million needed to break even, according to a Warner Bros. spokesperson.
"The film’s break-even point is $300 million," a Warner Bros. spokesperson said.
Warner Bros. had budgeted $125 million for the production, but costs rose to between $160 million and $180 million after schedule overruns, with an additional $100 million spent on global marketing. The studio had also planned an Oscar campaign, typically costing around $15 million, which may be scaled back given the film’s reception.
Despite public support from actors such as Anne Hathaway, Jane Fonda, Guillermo del Toro and Mandy Patinkin, the movie’s performance suggests a significant write-down for the studio. The loss estimate ranges from $150 million to $200 million, with the latest figures pointing to a total shortfall of about $245 million.