Hello, fellow moviegoers!
In our world full of popular young-adult futuristic/fantasy books being constantly turned into feature films, it is no surprise that a majority of them that could have big franchise potential end up dead in the water. (e.g. Eragon, Inkheart, and Beautiful Creatures). But what about the movies that actually make a bit of profit? Such as the Percy Jackson franchise? They had two movies, and now it seems to be going nowhere. Is there any chance we will see another Percy Jackson movie?
I am asked about the possibility of a third Percy Jackson movie quite often, and I always feel bad because I am the one to tell these fans of the books that it’s probably not going to happen.
A lot of people seem to think that because a film ends leaving room for a sequel, that it is contractually obligated to make that sequel. In a perfect world, movie studios see a big, popular franchise all the way through no matter what. Unfortunately, we do not live in a perfect world. Studios are a business. Their goal in making these movies is to make a profit. So when a movie doesn’t make a profit, it most likely won’t be making a sequel.
Let’s break it down. According to Box Office Mojo, Percy Jackson & the Olympians: The Lightning Thief made about $225,000,000 Worldwide, and it had a $95,000,000 budget. So just subtract the budget from the income and that’s their profit, right? Not quite. Take about 1/3 of that income and give it to the actual theaters that show the movie. That brings their income down to around $150,000,000. Then take all of the marketing they did for the movie, (for argument’s sake) $30,000,000 worth. Their income becomes $120,000,000. Take that income, subtract the $95,000,000 budget and their profit was somewhere around $25,000,000. Still a lot of money to you and me, but that can’t nearly be what the studio wanted to make with a big name franchise like this.
The first film was met with a very lukewarm response from both critics and audiences alike. Regardless, the studio pushed forward with a film adaptation of the second book of the series, and three years later Percy Jackson: Sea of Monsters (I hate when there is no continuity with titles) hit the big screen. This film made just under $200,000,000 worldwide on a budget of $90,000,000 (also according to Box Office Mojo). I’ll spare you the math this time, and just tell you that means they had about a $10,000,000 profit.
If you look at the profit of the franchise overall, it’s not hard to see that it has a negative slope. Sea of Monsters had approximately a 12% drop in profit from the previous installment. If that slope continued into a third film it would make around $176,000,000 and have a profit of $2,300,000. Do you see where I’m going with this? If the studio continued to make Percy Jackson movies at this trajectory, they would eventually start losing money. Which as a business is a huge red flag to stop doing what it is you’re doing.
So, I believe that 20th Century Fox decided to kill the franchise now while they still have a little bit of profit from it. They don’t want to lose money. Which can you blame them? The money that would have been spent on the Percy Jackson franchise can now be spent on other, potentially better films.
While it may disappoint fans of the series, I do believe that the Percy Jackson franchise is dead, for now. Maybe, they will try to kick-start it again in 15-20 years with new actors, but I doubt it.
So do you think we will see any more Percy Jackson films? If they did make them, would you go and see them? Let me know by commenting on this post!
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