According to Deadline, after disastrous test screenings, Sony attempted to sell the film to Netflix, which declined.
During the opening days of its Christmas 2018 release, exhibitors reported an astonishing number of walk-outs.
Speaking on the Empire Podcast #346 (11 January 2019) about the quality of the film, Steve Coogan said, "I think in 20 years time when the dust has settled and people are able to look at Holmes and Watson objectively, I think people will say it's still rubbish".
Many critics decried the film for being horribly unfunny and shockingly incompetent on a technical level, with sloppy editing and several shots out of focus.
This is the first (and only, as of 2021) film in the history of the Razzie Awards to "win" Worst Picture without being nominated for Worst Screenplay.