Annapurna Lost At Least $8 Million on ‘Beale Street,’ ‘Vice’ Was a $15 Million Bomb — Report

Annapurna Lost At Least $8 Million on ‘Beale Street,’ ‘Vice’ Was a $15 Million Bomb — Report
Annapurna won two Oscars this year, but a new report from Variety makes it clear what a tough holiday season it really was for the financially burdened company. The studio released three movies on Christmas day, Barry Jenkins’ “If Beale Street Could Talk,” Karyn Kusama’s “Destroyer,” and Adam McKay’s “Vice,” and none of them turned a profit at the box office. In fact, insiders tell Variety that “Vice” was at least a $15 million bomb for Annapurna. Some sources say the loss was closer to $20 million. “Beale Street,” meanwhile, lost between $8-10 million for the company, while “Destroyer” was a $7 million misfire.

What’s frustrating about these financial losses is how all three movies earned critical buzz, especially the universally acclaimed “Beale Street.” The Barry Jenkins film won top honors at the Indie Spirit Awards and won the Best Supporting Actress Oscar for Regina King. “Vice” earned eight Academy Award nominations,
See full article at Indiewire »

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