To quote Heath Ledger’s version of the clown prince of crime, maybe some wag should be scrawling “Why so serious?” on glass-fronted offices at Warner Bros Discovery this week, as executives there contemplate the box-office implosion of Joker: Folie à Deux. A catastrophic $37.7m opening weekend, the largest second-weekend drop for a DC film (81%), a worldwide take currently standing at a piddling $165m … how has the studio gone from the 2019 original, a billion-grosser that was then the highest earning R-rated film, to this?
If nothing else, the Joker is proving true to his reputation as an agent of chaos. But he is also the most beloved of comic-book villains from a storied franchise; a draw almost on par with Batman himself, making the disaster all the more unthinkable. With bubonic word of mouth, Joker: Folie à Deux is now projected to lose $125m-200m, depending on whose budget estimate you believe. If it’s the $300m figure being generally touted for production and marketing, then this is clearly what has hobbled the film; it would leave it needing as much as $475m to break even. Risky reinventions of hallowed pop-cultural icons are a lot more feasible on the first film’s sensible $60m budget.
