- Directed By: Ericson Core
- Written By: Kurt Wimmer
- Release Date: December 25, 2015
- Domestic Distributor: Alcon Entertainment (through Warner Bros)
- Cast: Edgar Ramírez, Luke Bracey, Ray Winstone
Box Office Info:
|Budget: $105 million||Financed by: Alcon Entertainment; DMG; German Federal Film Fund|
|Domestic Box Office: $28,782,481||Overseas Box Office: $104,936,230|
“Point Break was fundamentally rejected. If we had decided to do a sequel, it would have been perceived differently. Most people who have a degree of success say they were more shaped by their failures than their successes. We learned a lot of lessons from Point Break. I never want to be involved in a remake again. We were pure of heart, but we offended a lot of people.”
Alcon Entertainment majority financed this pointless remake of the cult 1991 pic and partnered with Beijing based company DMG for a series of films they would contribute some capital into and help secure a release date in China. The partnership with DMG would allow the films to be China co-productions, which would return 40% of the gross, instead of 25% for foreign films. The first film under this partnership was the Johnny Depp fiasco Transcendence and Point Break was the second.
In 2013 Lionsgate pre-sold the remake for Alcon at the American Film Market and it was the most successful project at AFM, selling out worldwide and distributors were in bidding wars over the movie, which did not even begin casting. The strong pre-sales mitigated much of Alcon’s exposure to the expenses. The budget for Point Break was $105 million. The German Federal Film Fund also invested $4.4 million. While at AFM, Lionsgate also sold out global pre-sales for garbage cinema Mortdecai and Gods Of Egypt.
Point Break became the first major studio release to open first in China before its domestic run, which was positioned to beat the blackout period, where only local films are booked in theaters. The early release date also distanced it from Star Wars: The Force Awakens and Kung Fu Panda 3, which were set to open after the blackout ended. The film grossed a healthy $39.3 million from China.
For its US release, Alcon paid for the P&A expenses and distributed through Warner Bros and WB received a fee for use of its resources. Point Break was first scheduled as a major summer release on July 31, but Paramount moved Mission: Impossible — Rogue Nation from Christmas to July 31 and Warner Bros moved the remake to Christmas. Point Break was one of five wide releases opening over the crowded Christmas frame and it fared the worst. It bowed against Daddy’s Home, Joy (which also had a supporting role for Point Break actor Edgar Ramirez), the wide expansion of The Big Short and Concussion.
Alcon supported the domestic release with an expensive marketing blitz, spending $28.62 million just in TV ads and after other traditional means of advertising and distribution costs — the stateside P&A expenses were north of $40M. Reviews were terrible and the remake pulled in a soft $9,800,252 — placing #8 for the weekend led by Star Wars: The Force Awakens. Point Break had a modest 30.4% second weekend decline to $6,817,641 over the New Year’s frame, but plunged 68.5% in its third session to $2,148,406 and promptly lost most of its theater count. The domestic run closed with $28,782,481. Alcon would see back about $15.7 million after theaters take their percentage of the gross.
The overseas release fared better than the terrible US run, but most markets pulled in mixed to poor numbers. China was the strongest market and Russia posted the second highest gross at $6 million. Point Break flopped in the UK with $1,230,574. The overseas release cumed $104.9 million across many distributors.