Movies that cost too much to make aren't just expensive - they often actively lose money for their studios. Movies need to earn at least two times their budget from global box office sales - earning the studio as much as it invested - to be deemed a success. To be considered highly successful, however, a movie generally needs to gross over three times its budget. This is why a project like Avengers: Endgame couldn't be said to have "cost too much to make" despite its whopping $356 million budget, as it netted a record $2.7 billion at the box office, or 7.5 times its cost.
Global box office revenue is a combination of domestic ticket sales - within the U.S., Canada, and Puerto Rico - and foreign or "international" ticket sales - everywhere else in the world. If a movie makes less than twice its budget at the global box office, then it can be considered to be too expensive, as such earnings don't even allow the studio to break even. While the age of streaming has led box office metrics to be contested as a measure of success, Hollywood studios still heavily rely on these numbers to determine profitability. Based on these metrics, here are 12 movies that cost too much to make.
12 The Flash (2023)
The Flash reportedly cost around $200 to $220 million to make. Domestically, it has made less than $100 million, and just around $250 million worldwide - a projected loss of around $200 million for Warner Bros. Ironically, The Flash was generally well-received, praised for its take on the multiverse, good humor, and the performances of its cast, which notably includes Michael Keaton as Batman. However, though marketing revolved heavily around Keaton's appearance, Keaton himself was unavailable to promote the movie due to being busy with Beetlejuice 2. This further aggravated The Flash star Ezra Miller's absence from the media tours due to their legal troubles and heavily-publicized scandals.
11 Indiana Jones And The Dial Of Destiny (2023)
The fifth installment in the franchise, Indiana Jones and the Dial of Destiny is estimated to have cost $200 to $300 million to produce. Indiana Jones 5 has made $82 million domestically, and has earned only $152 million in the global box office. Indiana Jones 5 definitely cost too much to make due to the crew shooting on location in places like Italy and Morocco, not to mention the cost of digitally de-aging both Harrison Ford and Mads Mikkelsen. Ford was praised for his performance as Indie, as was the movie's production value and script. Though it lost money, it's still considered by many to be a worthy ending to the Indiana Jones movies.
10 Dungeons & Dragons: Honor Among Thieves (2023)
The first successful live-action feature adaptation of the beloved foundational roleplaying game, Dungeons & Dragons: Honor Among Thieves only made $208.2 million against a $150 million budget. Indeed, not only did the cast include Chris Pine, Michelle Rodriguez, and Hugh Grant in some of their best roles, but it also actually used the right Dungeons and Dragons elements in perfect ways. While it is currently the definitive live-action love letter to DnD, Honor Among Thieves was also a family-friendly, feel-good mainstream caper. However, the controversies surrounding Wizards of the Coast and Hasbro - combined with overall terrible marketing - led to Honor Among Thieves being a certified box office flop.
9 Shazam! Fury of the Gods (2023)
Shazam! Fury of the Gods had a budget of at least $110 million, and it made only $133.8 million worldwide. While Zachary Levi and the rest of the Shazamily retained their great chemistry from the first film, they couldn't save the script from too many superhero clichés and a substandard plot. Even the presence of Helen Mirren as the villain - and a cameo by television's live-action Billy Batson, Michael Gray - couldn't prevent Fury of the Gods from being a disappointing sequel. Though the movie is $86 million short of breaking even, Shazam! Fury of the Gods is still not the worst box office performer in the DCEU's slate of movies.
8 The Suicide Squad (2021)
James Gunn's The Suicide Squad earned $168.7 million globally, which didn't even make it past the movie's $185 million budget. This was due to low audience expectations set by the first failed Suicide Squad movie, and how the hard reboot's release coincided with the COVID-19 pandemic. In fact, it actually garnered decent viewership numbers through HBO Max, but the adaptive streaming strategy also enabled the movie to be heavily pirated. Though it cost too much to make based on box office earnings, it was heavily viewed upon release and remains critically acclaimed. This movie also led to John Cena's Peacemaker from The Suicide Squad cast getting his own show, further highlighting its enduring legacy.
7 Wonder Woman 1984 (2020)
Wonder Woman 1984 failed both financially and critically, making just $169.9 million against a $200 million budget, and still being lambasted by critics. To be fair, like The Suicide Squad, Wonder Woman 1984 failed at the box office but was one of the most-watched movies on HBO Max, due to its release happening just months after the declaration of COVID-19 as a pandemic. Nonetheless, even with the unfortunate circumstances of its release, critics and audiences couldn't get past the excessive elements and messy Wonder Woman 1984 ending, which ultimately undermined the movie's lofty overarching themes.
6 Cats (2019)
Based on the beloved 1981 stage musical by Andrew Lloyd Weber, Cats earned $75.5 million globally at a budget of around $80 to $100 million. The cast of Cats featured some of the biggest names in movies and entertainment, such as James Corden, Judi Dench, Jason Derulo, Idris Elba, Jennifer Hudson, Ian McKellen, Taylor Swift, and Rebel Wilson. However, the CGI work was not only expensive, but also resulted in grotesque visuals and unintentional surreal horror. There's no denying that the songs are great, but even the stellar performances by Taylor Swift couldn't save Cats from being one of the worst movies ever made in Hollywood history.
5 Pan (2015)
Based on the J.M. Barrie novel Peter and Wendy, an alternative Peter Pan and Captain Hook origin story from 1911, Pan had a budget of $150 million but only made $128.4 million worldwide. Despite its promising premise and a cast that featured Hugh Jackman, Amanda Seyfried, and Rooney Mara, Pan was heavily criticized for its rushed plot and incoherent CGI sequences. It certainly didn't help that the movie courted controversy for casting Mara, a white actor, as the Indigenous American character Tiger Lily. Mara has since expressed regret for taking on the role. Everything came together to make Pan one of the biggest box office bombs of 2015.
4 Fantastic Four (2015)
It wasn't surprising that Fantastic Four only earned $167.9 million against a budget estimated at $120 to 155 million. To begin with, Fantastic Four strayed too far from the source material, changing how the team gains their powers and even Victor von Doom's origin story. Big names like Miles Teller and Michael B. Jordan in the cast ultimately weren't enough to overcome the fact that Fantastic Four was a misguided attempt at uniquely adapting a classic Marvel Comics team for the big screen. To this day, this 2015 box office flop remains the most universally hated of all the modern Fantastic Four movies.
3 The Lone Ranger (2013)
Even with the budget for The Lone Ranger being conservatively estimated at $225 to $250 million, it still only made $260.5 million at the global box office. Despite its overall great production value, the tiring action sequences, an overall bland script, and its runtime of 2 hours and 20 minutes lead to an unremarkable experience. While The Lone Ranger was a solid attempt at making a modern revisionist Western, Johnny Depp's Tonto ultimately failed to rise above Spaghetti Western-founded stereotypes. This is further compounded by Depp falsely claiming to have Indigenous American blood, and essentially being just another white actor being cast as an Indigenously non-white character.
