- Rate Movie
- Directed By: Baltasar Kormákur
- Written By: Aaron Kandell, Jordan Kandell, David Branson Smith
- Release Date: June 1, 2018
- Domestic Distributor: STX Entertainment
- Cast: Shailene Woodley, Sam Claflin, Grace Palmer
Box Office Info:
|Budget: $35 million||Financed by: STX Entertainment; Lakeshore; Huayi Brothers; Ingenious|
|Domestic Box Office: $31,445,012||Overseas Box Office: $28,500,000|
Adrift was packaged in December 2016 by the talent agency William Morris Endeavor with Shailene Woodley and director Baltasar Kormákur attached. WME put the project onto the market for financing/distribution bids, under the logline: “Gravity on the high seas.” We suppose it beats “Recycled lost at sea movie you’ve seen before.” Kormákur was also coming off the global box office success of “Gravity on a mountain” (Everest). STX Entertainment immediately began negotiations and finally acquired global rights to Adrift in early February 2017. Days later, STX took the project to the European Film Market for pre-sales. The company would handle US and UK distribution duties.
The net budget for Adrift was $35 million and it was the first major movie to take advantage of Fiji’s newly implemented 47% tax rebate, with a maximum return of FJD$28.2M (roughly $13.3M USD). STX had landed numerous co-financing arrangements on their pictures and coin for Adrift was provided by Lakeshore, Huayi Brothers and Ingenious. The financing model after nearly $20 million from pre-sales, had STX exposed to about $3M of the budget — plus marketing expenses.
STX dated Adrift for June 1 and it bowed against Action Point and Upgrade. Reviews were mixed and tracking was pointing to a $10M – $13M opening and it came within expectations at $11,603,039 — placing #3 for the weekend led by holdover Solo: A Star Wars Story. Adrift was expected to leg out over the next few weeks as counter-programming to oversized summer fare, but it sank 54.6% to $5,272,049 in its second frame — with new opener Ocean’s 8 likely siphoning most of its audience. It then plunged 58.3% to $2,200,332 in its third session and closed its domestic run with a disappointing $31,445,012. STX would see returned about $15M after theaters take their percentage of the gross — which would leave at least $15M in P&A expenses in the red, plus their $3M investment into the picture.
Adrift pulled in soft numbers during its overseas rollout, which stalled at $28.5M across numerous distributors.