James Gunn's GUARDIANS OF THE GALAXY VOL. 3 is the Sole $200M+ Film to Turn a Profit in 2023
In a year plagued by disappointing performances from major studio blockbusters, Marvel Studios has managed to defy the odds with James Gunn's Guardians of the Galaxy Vol. 3. As the only movie with a budget exceeding $200 million to turn a profit so far in 2023, the success of this superhero extravaganza is raising questions about the sustainability of mega-budget films in the industry.
2023 has not been kind to major studio tentpoles, especially superhero films, and recent releases like Disney's animated feature Wish and Ridley Scott's historical epic Napoleon have done little to show a reverse in the trend. With a total of 13 films boasting budgets surpassing $200 million in 2023, the box office estimates for many of these productions have not been promising.
Even with the upcoming release of Aquaman and the Lost Kingdom, the long-range box office forecasts do not paint a rosy picture. It appears that James Gunn's Guardians of the Galaxy Vol. 3 will likely stand as the solitary example of a $200 million-plus movie turning a profit for its respective studio this year.
While some films with budgets under $150 million, such as Barbie and Oppenheimer, have exceeded box office expectations, the notable success of Guardians of the Galaxy Vol. 3 demonstrates that massive budgets are not necessarily a guarantee of failure. This prompts the industry to consider a different approach to budgeting and production strategies.
Disney's CEO Bob Iger has already hinted at a potential shift in the studio's approach, suggesting a move toward investing less money in their biggest projects. However, the nature of superhero event films, exemplified by Guardians of the Galaxy Vol. 3, dictates that these productions will inevitably incur substantial costs. The key may lie in balancing budgetary concerns with a focus on delivering high-quality content that resonates with audiences.
The new plan, which should’ve always been the main plan in the first place is quality over quantity. Guardians of the Galaxy Vol. 3 was a high-quality film that was given time to be developed properly. A more strategic approach to great storytelling and character development may entice more audiences into theaters. This paradigm shift could lead to a reevaluation of what truly makes a blockbuster successful in the eyes of both critics and moviegoers.
Via: Indie Wire