At the beginning of the summer, Steven Spielberg predicted that a series of big-budget Hollywood flops would potentially cause the film industry to implode upon itself. Internet bloggers across the world initially scoffed at Spielberg’s out-of-touch philosophies about filmmaking, but after this summer left a few high-profile movie studios in the red, we think the bearded-one might be onto something.
After years of record profits and sure-fire hits, this summer has seen way more costly flops than we’re accustomed to, with The Lone Ranger going down as the most infamous. This is a movie that Disney just lazily assumed would bring in bank because of the presence of Johnny Depp and his Pirates of the Caribbean pedigree; unfortunately for the House of Mouse, the movie was an overlong chore to sit through, causing critics to spew vitriol at it and audiences to ignore it en masse. Some box office analysts have gone on record predicting that the studio will lose $200+ million from the movie.
Joining The Lone Ranger in the flop brigade were high-profile failures like Pacific Rim, Elysium, After Earth, and The Wolverine, none of which earned the type of money the Internet fanboys predicted. Well, maybe we saw After Earth’s demise coming. But what does this mean for the future of blockbuster movies? While we learned that Steven Spielberg’s prediction of a Hollywood implosion might be true, we’re still not sure what the solution could be. Unfortunately, neither does Hollywood.