Hollywood has a pretty good track record of avoiding box office catastrophes with big-budget movies—meaning production budgets of $120 mil. or more–and Paramount is determined that its “World War Z” doesn’t get added to that short list.
A “Hollywood Reporter” article recounts how Paramount Pictures engaged in a late revamp of its Brad Pitt apocalyptic yarn “World War Z” after deciding its final one third needed retooling. The PG-13 rated zombie epic will premiere June 21—six months later than originally envisioned (Dec. 21, 2012). The article says “World War Z” is now on track to gross $40-50 mil. its opening weekend, which is decent for a sci-fi film that cost over $200 mil.
“Normally a studio would go to great lengths to avoid taking on the cost and bad publicity that can follow when a $200 million-budgeted film’s opening is pushed,” says the article by Kim Masters in the “Hollywood Reporter”. “In this case, Paramount did not have much choice. The film lacked a third act, and the studio hired (ABC Television’s) ‘Lost’s’ Damon Lindelof and Drew Goddard to create a new ending.”
Shooting of additional scenes for the film’s ending took place in London in October 2012, which are rumored to have cost $20 mil., according to a Vanity Fair article by Laura Holson. Paramount also insisted on a PG-13 rating, while filmmakers wanted action that risked an R rating (“World War Z” is officially rated PG-13 now).
An analyst at investment firm Cowen & Co. predicts that “World War Z” will be a flop, which is a concern for the stock price of Paramount-parent Viacom that is publicly traded. The prediction is based partly on the industry factor that the peak summer season is clogged with a high number of big-budget extravaganzas.
While delays and re-shoots are always a caution flag, the Hollywood Reporter story notes that late retooling is becoming more frequent. Box office hits “The Great Gatsby”, “The Hobbit” and “G. I. Joe: Retaliation” shined, despite experiencing delayed releases.
Paramount’s last-minute overhaul aimed to prevent “World War Z” from being added to the short list of recent big budget films that bombed. Flops include Disney’s “John Carter” ($73 mil. in domestic box office on $250 million production cost), Universal’s “Battleship” ($65 mil. in domestic BO on $209 mil. cost) and Warner Bros.’ “Jack and the Giant Slayer” ($65 mil. in domestic BO on $195 in cost). It’s a short list given all the successes with most big budget extravaganzas.
Late Add June 19: “NY Post” reviewer Kyle Smith gives the movie a low-but-not-disastrous two-star rating…link below.
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