Though “The Mummy” marks the biggest global opening weekend ever for Tom Cruise with $170 million, it doesn’t look like it’s going to help Universal’s first entry in its new Dark Universe franchise stay in the black.
The movie is projected to lose $95 million, according to Deadline, when factoring in the movie’s bloated production and marketing costs, which total around $345 million ($195 million production budget, $150 million for distribution and advertising). The film will have a projected total revenue of $250 million, which is a combination of what the studio gets back from theatrical release, global TV deals, and home entertainment.
Universal’s saving grace has been the overseas revenue for “The Mummy.” To date, the movie has taken in over $236 million in other countries compared to an extremely disappointing $57.1 million in the US. But things are likely going to change dramatically for the movie this weekend with Paramount’s release of “Transformers: The Last Knight.”
The latest “Transformers” will be on over 1,000 IMAX screens in 42 markets – including China, where “The Mummy” is doing major business – essentially halting the Cruise movie’s forward momentum.
Deadline reports that Universal sources project “The Mummy” will earn $300 million overseas and $75 million domestically by the time its theatrical run ends.
That’s not the kind of start the studio wanted for its franchise of legendary monsters that is to compete against the likes of the Marvel Cinematic Universe and DC Comics Extended Universe.
But Universal will survive this bump. With hits earlier this year like “The Fate of the Furious,” “Get Out,” and “Split,” along with “Despicable Me 3” coming out at the end of the month, 2017 is looking like a big year for the studio.