PAN

Pan was budgeted at a massive $150 million by Warner Bros and RatPac Dune and Pan was envisioned by the studio as a potential franchise akin to Harry Potter and Lord of the Rings.  It was dated for July 24 and in April, WB pushed the July release to October 9, giving the filmmakers the time to complete the extensive visual effects — which is the usual PR code for retooling and throwing more money at a film that doesn’t work.  Reshoots commenced with a new cinematographer and additional vfx were added and the film certainly cost more than its reported price tag.  Pan was tracking poorly in the weeks going into release and a whitewashing debate erupted over the casting of Rooney Mara as Tiger Lily.  Despite the lack of interest, WB invested in a huge international marketing blitz.  On top of traditional means of marketing the studio spent a fortune in London, as they turned Leicester Square into Neverland; in Tokyo, the Keyakizaka Complex was turned into Neverland; there were events and exhibitions in Hong Kong and Mexico City; there were also exhibits throughout Asia, Europe, Latin America and the US displaying the film’s costumes; an airship with the Jolly Roger was in multiple airshows in Germany; and there were other no expense spared Pan activities and madness.

Despite all the effort of the WB marketing machine and an unholy amount of money spent, audiences just didn’t care.  Pan received poor reviews and opened way below its low expectations at $15,315,435 (which is the same number the 2003 Peter Pan opened with adjusted for inflation and without 3D price gouging).  It placed #3 for the weekend led by The Martian in its second frame and Pan even opened behind Hotel Transylvania 2 in its third weekend, also competing for family auds.  Showing poor legs, Pan tumbled 61.7% in its second weekend to $5,863,128 and continued to post steep weekly declines and closed with just $35,088,320.  Warner Bros rushed this massive flop onto home video just two months after its US opening, days before Christmas.

Pan’s international numbers came in at an underwhelming $25.2 million during its first weekend in 54 territories and stalled with a less than blockbuster cume of $93.3 million.  Warner/RatPac saw their biggest box office misfire since Jupiter Ascending earlier in 2015.  It is estimated that Pan‘s losses are at least $100 million.