DRAGONFLY

Budget: $75m Financed by: Spyglass Entertainment; Universal
Domestic Gross: $30,323,400 Domestic Distributor: Universal
Overseas Gross: $22,000,000

dragonfly 2002 box officeSpyglass Entertainment originally was going to co-finance Dragonfly with MGM for $75 million, but MGM backed out due to the high budget and sent the project into turnaround.  Spyglass took Dragonfly over to Universal to co-finance, who took on domestic distribution and brokered a deal with Universal who would sell foreign rights of the film back to Spyglass.  Spyglass then sold off most foreign rights to Disney through their Buena Vista Intl. label and Spyglass would distribute Dragonfly in Japan, Scandinavia and German-speaking territories.  Kevin Costner had a feud with Universal executives a year before filming began on Dragonfly, over cutting the baseball pic For Love Of The Game down to a PG-13 rating and he went public with his displeasure about Universal and refused to due much publicity.  Despite putting aside their differences to go forward with Dragonfly, Costner has not had another project at the studio.  Universal originally planned a fall 2001 release, but pushed back the release to January 2002 and moved it again to February 22.  Dragonfly received awful reviews from critics and Costner was just coming off the 2001 critical and box office disaster 3000 Miles To Graceland and Dragonfly also had marketing that misrepresented the film as a spooky ghost story with frights — trying to capitalize on Spyglass’ success with The Sixth Sense.  Dragonfly opened in 2,507 theaters to a soft $10,216,025 and the pic saw a modest 35.2% second frame drop to $6,618,465 and held on with a 39.2% third weekend decline to $4,023,320.  Despite decent weekly holds, the film closed its US run with a poor $30,323,400 — leaving Universal with about $16.6 million after theaters take their percentage of the gross, which leaves part of their P&A costs in the red.  Dragonfly performed poorly overseas and was a disaster in the UK, where Costner’s reputation withered (3000 Miles To Graceland was straight to video in the UK) and it pulled in $117,200 with a $592 per screen average and no numbers were reported after the opening weekend.  Spain posted the highest gross at $5.9 million and the overseas gross was $22 million.