Box Office Bombs That Drove Studios Out of Business
The Golden Compass, 2007
What happened with ‘The Golden Compass’ goes to show how hurried decisions can really bring about a myriad of unwanted consequences. We’re referring to the New Line Cinema’s quick sale of their international rights to raise a whopping $200 million for the project.
They saw the end of the road for their productions when the domestic ratings plummeted for the fantasy adventure, generating only less than half of the investment. What really got them, though, was the fact that it actually made over $300 million worldwide. But the sold-off rights meant ‘New Line’ couldn’t pocket a penny of it. If that’s not bad luck, we don’t know what is.
The massive loss meant that the production house could barely manage to operate, prompting ‘Warner Bros.’ to acquire the company after the debacle. We’re sure the restructuring definitely helped mitigate the damage of what was supposedly an ill-thought choice.
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