Well, the good news for Disney is that after the disastrous failure of “Snow White” and “The Marvels,” they finally have some competition for the biggest flop in Hollywood history. And boy oh boy, has an already rough week for Saudi-backed projects gotten much, much worse.
One of the strategies guiding the country’s trillion-dollar Public Investment Fund has been to invest in entertainment and sports properties in order to diversify their economy and future development. The PIF has made heavy financial investments into Formula 1, backed the creation of the Qiddiya City region and associated theme park, and of course, funded LIV Golf. And created major movies.
Until this week, that is.
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Amid the ongoing conflict in Iran, the Saudis have signaled that their investment process is shifting. Uncertainties in the Middle East have seemingly led to looking for better return on their money.
That’s meant LIV will have to look for other funding sources or shut down entirely. And after they see the box office results of their first big movie release, those film investments might be shutting down too.
‘Desert Warrior’ could become largest financial disaster in movie history
The failure of “Snow White” and “The Marvels” has been extensively covered. The Rachel Zegler-starring live action remake of the Disney animated classic lost the studio an astonishing $170 million.
“The Marvels” cost an estimated $270 million to make, and millions, if not hundreds of millions of dollars, more to market. Given that studios only get back half of a film’s theatrical gross, it’s $206 million worldwide total was an unmitigated disaster.
But both of those pale in comparison to the unfolding crisis of “Desert Warrior.”
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You likely haven’t heard of “Desert Warrior.” And based on its opening week box office grosses, it’s a near-guarantee you haven’t seen it either.
“Desert Warrior” is described as being set in seventh-century Arabia, a desert epic that tangentially evokes “Lawrence of Arabia.” A princess, played by Aiysha Hart, refuses to become a concubine to an elderly, “ruthless” Emperor, played by Ben Kingsley. She runs away into the desert, hunted by an army and forced to ally with a “legendary bandit” played by Anthony Mackie. Yes, Captain America Anthony Mackie. The princess then “unites warring tribes for a final stand,” described as a “clash that will change history forever.”
The film had a production budget of an estimated $150 million, no wonder given the scale and scope of the story and a cast with established stars like Anthony Mackie and Ben Kingsley.
It’s opening weekend brought in an astonishing $472,111. Not $400 million. Not $40 million. Not $4 million. $472,111. Playing in 1,010 theaters in North America, that corresponds to a per-theater average of $467. Assuming tickets cost an average of $17.50, that’s roughly 26-27 total tickets sold per theater. For an entire day’s worth of showings.
But that’s just North America. Perhaps it’s found better success internationally. Well, bad news there too. Worldwide box office thus far is $517,508. On a $150 million budget, it’s grossed $517,508 in almost a week. Disastrous.
Some reviewers have praised the film’s production value, but it has just a 29% Rotten Tomatoes critic score and a 2.1/10 rating on iMDb. It’s also impossible for there to be good word of mouth because, well, nobody’s seen it to tell their friends.
Assuming David Ellison and Paramount’s purchase of Warner Bros. Studios is approved by regulators, the PIF will have a significant equity stake in the combined company. Given the results of “Desert Warrior,” that’s probably a better path forward to make inroads in Hollywood.
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