It’s not news that Matrix Resurrections isn’t doing well at the box office. We told you recently that for the opening weekend Warner Brothers thought it might do about $40 million, but in the end, it was closer to $20 million.
Matrix Resurrections has now been out for a few weeks and things are still not looking good. The movie launched into the cinemas, and on HBO Max, on 22nd Dec. As of now it has made about $100 million. The movie is estimated to have cost around $190 million, plus then the advertising, marking, and distribution costs. So it looks like it may lose Warner in the region of about $100 million.
Three things to consider. Firstly, this had a simultaneous release in the cinema and on streaming. The box office takings are for the cinemas so it doesn’t include HBO Max subscriptions, so the estimate of losing $100 million isn’t exact.
Since it was on streaming, a lot of people may have already had subscriptions to HBO Max and they have not released any information about new subscriptions generated by the release of Matrix Resurrections. It also doesn’t take into account how much the movie was pirated.
Secondly, this was supposed to be a sure-fire hit for Warner Brothers. A simple “Hey everyone, remember how cool the Matrix was?” and everyone would flock to theaters, and all the suits would all make money.
Thirdly, the reviews didn’t help. There are some that love the movie but there are more that think it was terrible. It has a lackluster score of 64% on Rotten Tomatoes, compared to the original movie, which scored 88%.
Lana Wachowski has already announced there are no plans for a sequel. Shame.