With outlets like Vanity Fair calling Universal Picture’s “Cats” “a cinematic crime,” and threatening to put Tom Hooper in “director’s jail” over it, “Cats” was not a critical success. After all, the film is set to lose the studio at least $70 million, the LA Times reports.
But Universal is facing another, possibly even bigger flop. After a dismal opening weekend, “Dolittle” is lined up to lose up to $100 million, according to Fox News.
In just two months, Universal will lose $170 million on these star-studded and CGI-heavy movies.
Oscar-darling “1917” is offering a bit of balance with a $20 million opening, according to CNN.
“I think it has a real shot at being No. 1 this weekend,” Boxoffice.com analyst Shawn Robbins told CNN Business. “We’re coming out of the post-holiday hangover and people, especially adults, are looking for a serious movie. They’ve gotten their fill of family-friendly content over the holidays and may now be looking for something more substantial.”
Despite this, Universal is facing a 60% decrease in box office revenue for the quarter, a 21% decrease in revenue overall, and a 3.7% drop on the stock market on Thursday, according to CNN.
The company is still making a profit overall, the New York Post reports.
Universal’s losses are high because it is being compared to 2018’s highly successful season, which featured “Halloween” and an animated remake of “The Grinch,” featuring Benedict Cumberbatch, according to CNN.