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Box Office Meltdown: Hollywood Races to Win Back Summer Crowds

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On paper, the film, a $140 million adaptation of a beloved children’s book with a script by “ET” writer Melissa Mathison, had all the makings of a hit. Instead, the movie collapsed at the multiplexes, eking out less than $20 million in its opening weekend.

It’s a stunning fall for one of cinema’s highest-flying talents — a director whose finger was affixed to the pulse of mainstream tastes for decades. Yet “The BFG” is only the latest high-profile casualty in a summer that’s seen a slew of big-budget domestic bombs. Indeed, red ink has spilled out from such misses as “Alice Through the Looking Glass,” “Warcraft,” “The Legend of Tarzan,” and “Teenage Mutant Ninja Turtles: Out of the Shadows,” each of which had production budgets north of $130 million, along with steep global marketing and distribution costs. The failures could cost their studios tens of millions of dollars. – READ MORE

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