|Budget: $160 million||Financed by: Warner Bros; Virtual Studios|
|Domestic Gross: $60,674,817||Domestic Distributor: Warner Bros|
|Overseas Gross: $121,000,000|
Directed by: Wolfgang Petersen
Produced by: Akiva Goldsman
Poseidon was financed for $160 million by Warner Bros and the short lived private equity hedge fund Virtual Studios, which invested $528 million into six WB films. Poseidon was the first of two box office flops in 2006 for Virtual/WB, the other being The Good German. The head of Virtual Studios, Benjamin Waisbren was fired by Stark Investments, the hedge fund backing Virtual, after Poseidon posted an estimated $50 million loss for Virtual. Warner Bros split the worldwide marketing costs with Virtual and WB would recoup its P&A spend and receive a 12.5% distribution fee, before Virtual sees back any revenue. After an expensive marketing blitz, Poseidon was tracking poorly going into release and opened in the US in 3,555 theaters, where it pulled in a troubling $22,155,410 — placing #2 for the weekend led by holdover Mission: Impossible III. Showing terrible legs, the film dropped 58.4% in its second weekend to $9,224,340 and declined 38.7% in its third weekend to $5,650,026 and quietly closed its run with a less than blockbuster $60,674,817. Warner and Virtual were hoping the film would play well in the overseas market, but it produced mostly soft numbers for a film of this cost, grossing a total of $121 million. The worldwide cume was $181.6 million, leaving WB/Virtual with about $99.5 million after theaters take their percentage of the gross, which would just about cover only their expensive worldwide P&A spend. Domestic home video sales brought in $27.2 million (less after resellers take their cut and manufacturing costs).