Digger faces $150M loss for Warner
The cinematic gamble unfolding on the big screen with Tom Cruise and Alejandro Inarritu‘s latest project, Digger, appears poised to be one of the year’s most expensive disappointments. Industry estimates suggest the film is on track to deliver a staggering loss, potentially hitting around $150 million.
Even the opening weekend numbers are raising eyebrows. The film is projected to pull in a modest start of just $20 million globally, with domestic and international figures totaling $20 million in its first weekend. This opening performance marks Cruise’s lowest opening in nearly two decades.
Box office experts are cautious, predicting that Digger will struggle to reach the $50 million global gross many might hope for. The true weight of the production, however, lies not just in the anticipated failure, but in the colossal investment required to get there.
The financial ledger for the movie is even more sobering. The film reportedly incurred a net production budget of $160 million, which already includes UK tax credits. When factoring in a nearly $100 million in global Prints and Advertising (P&A) spend, the financial strain becomes palpable. Warner Bros. is estimated to face a total bill of $275 million.
While the theatrical performance faces headwinds, analysts speculate that revenue could be generated through ancillary streams. If the film manages to achieve a theatrical gross nearing $50 million, coupled with strong performance in pay-per-view-on-demand (PVOD) rentals and streaming deals, the projected revenue could reach $127 million.
This optimistic scenario still results in a significant financial outcome: a projected net loss of $148 million. This loss estimate relies on the film performing better in the home video market than in the theaters to avoid an even larger deficit.
The project enters the spotlight amidst a changing landscape for major studios. Digger is viewed as the final venture under the stewardship of former Warner chiefs Mike DeLuca and Pam Abdy. Their tenure saw a mix of high-profile successes and notable flops, ranging from Joker: Folie a Deux to Sinners and The Conjuring: Last Rites.
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