Ghostsbusters Bomb Was Tougher on Sony Than Previously Thought
We’ve all had a lot of fun laughing about how badly the Ghostbusters remake bombed. It’s been reported that Sony lost at least $70 million on the project. It looks like those reports were somewhat generous, however. According to a piece recently published by The Hollywood Reporter, the total amount of money this bomb of a movie cost Sony might actually be much, much higher.
Sony Pictures Entertainment remained mum on losses from this summer’s Ghostbusters in its earnings call on Tuesday, but sources tell The Hollywood Reporter the considerable financial pain inflicted on the studio by the July reboot was magnified by the fact that key financing partner LSC Film Corp. pulled its backing about a month before the film went into production.
LSC has invested in Sony movies since striking a deal with the studio in 2014, and has lost money on many, including The Brothers Grimsby, Money Monster and Aloha. The co-financier initially agreed to put up 25 percent of a Ghostbusters budget that SPE says was $144 million, including rebates, but other sources put closer to $160 million, not counting a considerable marketing spend. LSC ultimately had doubts about the film’s prospects, which proved justified as Ghostbusters grossed just $229 million worldwide.
I’ve never heard of LSC Film Corp., but it looks like whoever runs the show there knew that this was a disaster waiting to happen. Of course, you didn’t have to be a rocket scientist to realize that, but still. Kudos to them, and lol at Sony for being dumb enough to persist with this farce of a film.