The Nutcracker In 3D
|Budget: $90 million||Financed by: Numerous Russian State Banks; Vneshekonombank Bank|
|Domestic Gross: $195,459||Domestic Distributor: Cinemarket Films (through Freestyle Releasing)|
|Overseas Gross: $15,983,500||
Directed by: Andrey Konchalovskiy
Produced by: Paul Lowin
This $90 million production was funded through equity financing from Russian state banks, plus tax incentives in Hungary. Most of the budget was from the bank Vneshekonombank, which originally invested $50 million to the production and then $11 million for a 3D conversion. The bankers lost over 90% of their backing. The Nutcracker In 3D was designed as a prestige export for the global market and was filmed in English with an American lead and garnered little interest from major distributors in almost every territory outside of Russia and terrible reviews across the globe did not help. Most independent distributors who picked up the film had a hard time releasing the film into 3D theaters, with the limited amount of 3D screens already pre-booked for major studio releases. The Nutcracker In 3D grossed an ok $13.7 million in Russia and just an additional $2 million from other territories. Cinemarket Films acquired US rights and distributed through rent-a-distributor Freestyle Releasing and opened the film in 42 theaters to a poor $65,944 with a $1,570 per screen average. The Nutcracker In 3D expanded to 115 theaters to diminishing returns with $60,771 and was pulled out of release after just three weeks with $195,459 ending its disastrous worldwide run. The Nutcracker In 3D went straight to video in key market France and most smaller markets.