HUGO

Graham King’s GK Films financed Hugo for what was originally a $100m budget, until it went over budget with estimates as high as $180m. Paramount distributed in the US and despite 11 Oscar nominations and critical acclaim, the film struggled at the box office. Hugo opened with $11,364,505 at 1,277 theaters, with the hopes that word of mouth would help sell the film which had a difficult time connecting with audiences through weak marketing. Hugo did have legs and grossed $73,864,507 at the US box office, which would cover the ad spend after theaters take their percentage of the gross, but that would not put a dent in the colossal budget. Overseas, Paramount distributed in some territories and put the film out mostly through UIP (joint distribution between Paramount and Universal) and the film pulled in $111m, which while a decent number, was again not nearly enough to cover the budget that spiraled out of control. GK Films would take an $80m loss on the project and Hugo caused a rift and then departure in their financial partnership with Texas oilman billionaire Tim Headington, who was a main line of support for Graham King’s company. The financial loss would also create a rift between King and director Scorsese, who had provided capital for the director’s films for decades.

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