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Sunday, March 9, 2008
How a moneymaking ‘Compass’ didn’t make money
The Atlanta Journal-Constitution
How can a movie be a worldwide success, earning $335 million and counting, win an Oscar and still be a bomb?
It can because that’s exactly what has happened to New Line’s “The Golden Compass,” which earned only a paltry $70 million in North America compared to its $180 million production budget (and that doesn’t even include marketing and advertising).
The film, which won the Academy Award for visual effects, has earned more than $265 million in foreign markets, especially in Japan, and its box office beyond North America is expected to reach $375 million to $400 million.
But, as Variety so rightly points out, New Line earlier sold off its foreign rights in order to bankroll the film’s production. Thus, we have a turkey in North America and a fat, juicy steak in someone else’s camp.
Now that New Line has been absorbed by Warner Bros., Hollywood is waiting to see if the larger studio will continue to make other films in the series, including “The Subtle Knife” and “The Amber Spyglass.”
Safe to say if it does, it won’t be selling off foreign rights.
Were you surprised that “Golden Compass” didn’t do better in the United States? Do you want to see the sequels?
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