New York, Mar 20 (ANI): 'John Carter' has caused Disney a 200-million-dollar loss in its opening weekend, the studio announced.
The big-screen adaptation of Edgar Rice Burrough's 1912 'A Princess of Mars' - written before the author even dreamed up 'Tarzan' - earned just 30.6 million dollars in its debut weekend earlier this month.
However, the film had a reported 250-million-dollar budget because of its eye-popping special effects.
"Movie making does not come without risk. It's still an art, not a science, and there is no proven formula for success," the New York Daily News quoted Walt Disney Studios Chairman Rich Ross as saying in a statement.
"[Director\] Andrew Stanton is an incredibly talented and successful filmmaker who with his team put their hard work and vision into the making of 'John Carter.'
"Unfortunately, it failed to connect with audiences as much as we had all hoped," he said.
According to the Hollywood Reporter, that failure will cost the studio an operating loss of between 80 million dollars and 120 million dollars for the second quarter of 2012.
Though many sci-fi movies, including 'Star Wars' and 'Avatar' were inspired by 'John Carter', the property had little built-in recognition for mainstream audiences, which made for an uphill battle in a crowded year at the multiplex.
"It was a darn expensive movie, and you have to be extremely lucky to earn your money back (in those cases)," Paul Dergarabedian, box office analyst for Hollywood.com, said.
"There are very few movies that make half a billion worldwide, it's a tremendous risk because the odds are stacked against you," he added.
Fortunately for Disney, the studio is in good position to rebound with 'The Avengers' opening May 4. (ANI)
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