Mother's day weekend, 2017, has proven to be a very disappointing one for Warner Bros.and Village Roadshow as their male-fueled movie, King Arthur: Legend of the Sword failed to live up to expectations.
The movie costs a whopping $175 million to make but failed to cash in on its heavy investment on opening weekend.It launched to an epic flop by grossing only $14.7 million from 3,702 theaters, considered as one of the worst openings in history for a big-budget studio event film.It is also failing to gain any expected grounds overseas and could be facing a loss of well north of $100 million.
"The concept didn't resonate with a broad audience, and we're disappointed.We had higher hopes," said Warner Bros.domestic distribution chief Jeff Goldstein.This, however, is not the first of the studio's failed big-budget 'spin new live-action franchises based on classic IP,' projects.
Amy Schumer and Goldie Hawn's Snatched, on the other hand, racked in an impressive $17.5 million from 3,501 theaters after costing just $42 million to make.It came in second after Guardians of the Galaxy Vol. 2 which has continued to maintain its box office dominance.Guardians of the Galaxy Vol. 2 grossed in $16.4 million on Friday alone, much more than King Arthur did over its entire weekend.
"Teaming an edgy comedian with a comedian who is America's sweetheart is like the consummate political ticket that makes sure all of your constituents are served," said Fox president domestic distribution Chris Aronson, clearly happy about Snatched's performance thus far.
This is not the first of the Warner Bros's big budget productions to meet with devastating results, as their Pan in 2015, and Jack and the Giant Slayer in 2013 also failed to meet up to expectations.