Box Office: 'Ghostbusters' Expected to Lose Over $70 Million

Ghostbusters bombs in the box office

It appears as though Ghostbusters reboot is officially a box office flop as the movie is reportedly going to lose $70 million, according to reports. While the anticipation for Ghostbusters was at an all time high when it was first announced, it looks as though it was a bad decision by Sony executives. According to The Hollywood reporter, studio executives spent $300 million to make Ghostbusters and after earning only $180 million at the global box office, the movie is expected lose over $70 million. To add insult to injury, there are no plans for an upcoming sequel. From The Hollywood Reporter:

But film chief Tom Rothman and his team, along with partner Village Roadshow, had high hopes for launching a live-action Ghostbusters "universe." Now they are preparing for steep losses (think $70 million-plus) and an uncertain future for the franchise.

The Hollywood Reporter's source told the news outlet that, "we have many ideas in the works to further exploit the Ghostbusters universe." However, A Sony rep responded to the early estimations and said that the estimations were off and that "With multiple revenue streams, including consumer products, gaming, location-based entertainment, continued international rollout, and huge third-party promotional partnerships that mitigated costs, the bottom line, even before co-financing, is not remotely close to that number." Ghostbusters suffered in the box office after several critics bashed the movie. When you have people saying things like, "The nearly two-hour film is akin to many of those sketches that come on after "Weekend Update." You know the ones -- too-long, time-filler skits that seem to have been scrawled on the back of a pizza box in the writer's room five minutes before air time," it's not a good sign. This news comes after Ghostbusters' director, Paul Feig, says he doesn't want to reboot another classic movie. When asked whether he’d ever consider rebooting another classic movie, the director responded by saying “No, no, no. No, I will not,” Feig told The Huffington Post. Feig added, “This one was just too tempting because I knew we could do something with it that was exciting,” he explained. Via THR Related: What do you think? Share with us your thoughts in the comments below.