Lionsgate CEO On ‘Borderlands’ Bombing: “Everything That Could Go Wrong Did Go Wrong”

deadline.com:

When it came to the bombing of Borderlands, among other late summer and fall releases, Lionsgate CEO Jon Feltheimer made no bones to emphasize culpa nostra. “On Borderlands, nearly everything that could go wrong didgo wrong: it sat on the shelf for too long during the pandemic, and reshoots and rising interest rates took it outside the safety zone of our usual strict financial models,” exclaimed the Lionsgate Boss on today’s earnings call.

The $120M feature take of the famed videogame starred Jack Black, Kevin Hart, but most glaring of all, 2x Oscar winner Cate Blanchett in a renegade action role.

The movie grossed $15.4M domestic, and close to $33M worldwide. Lionsgate mitigates risk on their movies by selling off foreign rights.

Still, Borderlands, per sources is expected to lose as much as $30M. It was a clear case of a cult game failing to find a broader audience. “The success of our financial models doesn’t take the place of also getting the creative right,” said Feltheimer.