Hollywood Studios Cutting Their Losses As Movies Flop

Roger Friedman writes:

It’s a bizarre season in Hollywood. Almost nothing is “working,” and the studios can’t afford to waste any more money hoping things will turn around. They’re pulling flops from theaters earlier than usual.

This weekend, for example, Warner Bros. is putting out a white flag on “Blade Runner” after three tough weeks. They’ve cut the number of theaters showing Denis Villeneuve’s beautiful film by 855. So far, “Blade Runner” has made just $66 million. Audiences have not clamored to it. And now, week by week, Warners will quietly take it away.

Warner’s isn’t alone. Universal is pulling Tom Cruise’s “American Made” from 539 locations after a month in release. The Doug Liman directed thriller has made just $43 million. Good reviews haven’t helped push Cruise fans to theaters.