|Budget: $18 million||Financed by: RCR Media|
|Domestic Gross: $1,034,589||Domestic Distributor: RCR Media|
|Overseas Gross: $163,170||
Directed by: Todd Robinson
Produced by: Julian Adams
RCR Media financed Phantom for $18 million and K5 Intl. sold foreign territories, which kicked off at the 2011 Cannes Film Festival. RCR originally tapped Sony to distribute the pic’s domestic release, but RCR Media ended up self distributing Phantom in the US. Rui Costa Reis, chairman of RCR paid all of the picture’s expenses out of his own pocket and he invested an additional $10 million for P&A. Phantom was dated for March 1 and RCR tried to book the picture into over 2,000 theaters, but many locations dropped the movie the week before its release and it opened in 1,118 theaters.
Phantom received mixed to poor reviews and had no hype and little awareness and it bowed against Jack The Giant Slayer, 21 And Over and The Last Exorcism Part II. Phantom pulled in a disastrous $508,000 posting one of the worst per screen averages of all time at $454 for the weekend — placing far outside the top 10 at #23. Its theater count was reduced to 407 in its second weekend and it posted an 88% decline to $61,050 and was pulled out of release after three weeks with $1,034,589. Self distributing would have RCR receive a small percentage of the gross from theater chains (Regal Cinema pays out only 34% to independent labels, for example) and they would see back about $400k.
The submarine thriller starring Ed Harris and David Duchovny grossed just over $100k outside of the US and Phantom went straight to video in most major markets, including the UK, Germany, Italy and Australia. This was the first and last time RCR distributed a theatrical release.