Stars Johnny Depp and Armie Hammer and producer Jerry Bruckheimer can blame critics for The Lone Ranger’s failure this summer, but the fact remains that Disney is still going to have to deal with the financial cost of the project. The Walt Disney Company may have to take a $190 million loss on the film, hurting the media conglomerate's profits.
As TheWrap notes, The Lone Ranger wound up grossing only $175 million worldwide, which may sound great for any film, but not one that cost over $200 million to make and even more to market. The failure of the film will force the studio to take a $160 million to $190 million write-down in the company’s fiscal fourth quarter.
The third quarter report, which Disney revealed during a conference call Tuesday, includes the marketing costs of The Lone Ranger. According to The Hollywood Reporter, Disney said its third quarter revenue hit $11.6 billion, beating last year’s third quarter revenue, which was $11.1 billion.
Still, Disney is such a large company that success elsewhere could overshadow The Lone Ranger’s failure. Pixar’s Monsters University was a big hit and ESPN continues to reel in money. Disney’s media network revenue reached $5.4 billion, with operating income growing to $2.3 billion.
Disney’s earnings report came a day after The Lone Ranger’s creative team blamed critics for torpedoing the film before it even opened.
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