“Joker: Folie à Deux” is a flop. That’s the latest setback for Warner Bros. Discovery
The much-anticipated sequel to 2019’s box office hit "Joker,” has left producers with little to laugh about, after taking just $40 million at the domestic box office. The weekend’s haul missed forecasts for a $50-60 million opening — expectations that had been continually downgraded in the lead-up to the movie’s release.
That’s less than half of what the original film managed ($96 million), despite costing triple what the first effort did, and it marks the latest misstep for WBD.
The entertainment giant has seen its shares dive 25% in the last year, considerably worse than many of its largest competitors like Netflix (+91%), Disney (+21%), and Paramount Global (-11%), as concerns about its long-term strategy intensify.
In August, the company — which owns brands like CNN, Discovery Channel, the Food Network, HBO, and more — wrote down the value of its TV networks by $9 billion, as traditional cable continues to battle cord-cutting and the rise of streaming. Earlier this year, WBD dropped its pursuit of a potential merger with Paramount Global.
That’s less than half of what the original film managed ($96 million), despite costing triple what the first effort did, and it marks the latest misstep for WBD.
The entertainment giant has seen its shares dive 25% in the last year, considerably worse than many of its largest competitors like Netflix (+91%), Disney (+21%), and Paramount Global (-11%), as concerns about its long-term strategy intensify.
In August, the company — which owns brands like CNN, Discovery Channel, the Food Network, HBO, and more — wrote down the value of its TV networks by $9 billion, as traditional cable continues to battle cord-cutting and the rise of streaming. Earlier this year, WBD dropped its pursuit of a potential merger with Paramount Global.
