The Town with Matthew Belloni The 'Joker 2' Mega Flop and a New CEO at Sony Pictures
Oct 7, 2024
Lucas Shaw, a Bloomberg reporter specializing in media and entertainment, joins to dissect the underwhelming reception of 'Joker: Folie à Deux' and its effects on Warner Bros. Discovery. They discuss Sony Pictures’ unconventional strategy of avoiding the streaming war while focusing on partnerships, including with Netflix. Recent leadership changes at Sony, including the new CEO, are also highlighted. Shaw shares insights on the evolving challenges in Hollywood and how Sony's reliance on existing franchises may affect its future.
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Sony Pictures and the Streaming Wars
- Sony Pictures, unlike other major studios, opted out of the streaming wars, choosing to sell its content instead.
- This strategy, spearheaded by outgoing CEO Tony Vinciquerra, resulted in a healthier balance sheet for Sony.
Joker 2 Box Office Flop
- "Joker: Folie à Deux" opened to $37 million domestically and $81 million internationally, totaling $118 million.
- This is less than half of the original Joker's opening weekend, which earned $248 million.
Joker 2 Release Bungled
- Warner Bros. Discovery mismanaged "Joker 2's" release, including a poor showing at Venice and a six-week delay.
- The film's high budget of $200 million contributes to its financial disappointment.
