Crimson Peak

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  • Directed By: Guillermo del Toro
  • Written By: Guillermo del Toro, Matthew Robbins
  • Release Date: October 16, 2015
  • Domestic Distributor: Legendary (through Universal)
  • Cast: Mia Wasikowska, Jessica Chastain, Tom Hiddleston, Charlie Hunnam

Box Office Info:
Budget: $50 millionFinanced by: Legendary
Domestic Box Office: $31,090,320Overseas Box Office: $44,217,327

“If I’d done Crimson Peak for $25 million, the movie would have been a success because it made $75 million. But because I made it for $50 million, it wasn’t a success because it needed to do $150 million.”
–Guillermo del Toro

crimson peak Guillermo del Toro
Crimson Peak was first being developed at Universal in 2008, but the project never materialized and in December 2012 Legendary landed the film with Universal given the option to co-finance.  The budget for Crimson Peak was $50 million and Legendary fully financed the picture.   Universal was set to invest under the condition that director Guillermo del Toro shoot a PG-13 movie, but he delivered a R rated edit and Universal pulled out of the project.  Universal did distribute Crimson Peak, with marketing costs paid for by Legendary and the studio received a fee for use of their distribution resources.

The gothic-horror tale was heavily promoted by Legendary, which spent $18.66M on TV ads (as per iSpotTV), plus millions more on other traditional P&A expenses — for a domestic spend far north of $30M.  Crimson Peak was tracking for a high teens opening and bowed against Goosebumps, Bridge Of Spies and Woodlawn.  Despite positive reviews, audience response was muted and the pic declined in attendance 6.1% from Friday to Saturday and ended the opening weekend below expectations at $13,143,310.  $2.3 million of the weekend gross come from IMAX screens.  Crimson Peak placed #4 for the frame, led by Goosebumps.  Even with the disappointing opening, it was front loaded and sank 56.9% to $5,666,525 in its second frame and lasted only 6 weeks in release with a final gross of $31,090,320.

The overseas market wasn’t much friendlier to Crimson Peak, where it pulled in $44.2M and Mexico posted the highest gross at $5.7M.  The worldwide total was $75.2M, which would leave roughly $41.3M after theaters take their percentage of the gross, which would not come close to even covering the worldwide P&A costs.  In January 2016, the Chinese company Wanda acquired Legendary for $3.5 billion and in their financial statements, which were attained by the hollywoodreporter, Legendary lost $555.6 million in 2015.  Crimson Peak, Blackhat, Seventh Son and Steve Jobs contributed to the loss.

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