Disney reports that the price of the 2022 superhero film Doctor Strange in the Multiverse of Madness has reached a staggering £414. 9 million (£331. 9 million), making it one of the most expensive installments in the Marvel Cinematic Universe (MCU), surpassing even that of the team. . Movie Avengers: Age of Ultron.
The total budget hidden in documents released earlier this week showing Avengers: Age of Ultron costs 6. 4% less to produce than Multiverse of Madness, but generated three times as much profit based on the reported box office for the films.
The sequel to 2016’s Doctor Strange, Multiverse of Madness stars Benedict Cumberbatch as the eponymous wizard on a quest to stop Elizabeth Olsen’s Scarlet Witch from trapping a young girl who can travel to other dimensions. The film was the star product of the so-called Phase Four. of the MCU and introduced the multiverse format in which Marvel characters from other studios come together.
Multiverse of Madness marked the Disney debut of John Krasinski’s Mister Fantastic and Patrick Stewart’s Professor X, both of whom gave their impressions in 20th Century Fox’s Fantastic Four and X-Men films, respectively. It took more than a wave of a magic wand to pull it off. this.
Movie budgets are a well-kept secret, as studios tend to absorb the cost of each film into their overhead and not detail the cost of each one. However, movies shot in the UK are exceptions to this rule and Multiverse of Madness was one of them. It was made through a Disney subsidiary called Supreme Works Productions II, a nod to Strange’s role as Sorcerer Supreme.
Filming took place at Longcross Studios on the outskirts of London, which has hosted many other Disney films, including the first Doctor Strange, 2019’s Aladdin and Guardians of the Galaxy five years earlier. Multiverse of Madness was also filmed on location, with the historic British Museum doubling the headquarters of Stewart’s inter-studio superteam, the Illuminati. A flower-filled park in southwest England was also the scene of a showdown between Strange and the Scarlet Witch, the United Kingdom wasn’t selected just for its stunning scenery.
Studios filming in the UK take advantage of the government’s AV credit, which allows them to pay back up to 25. 5% of the money they spend in the UK in cash. To qualify for the refund, films will have to pass an airplay check based on points such as how much of the production was made in the UK, whether the film features the UK, whether the music was recorded in the UK, and how many lead actors and production crew are from the UK.
Perhaps this explains Multiverse of Madness’s incongruous appearance of an old-fashioned red British phone booth and also why Stewart’s supergroup includes fellow British women Hayley Atwell and Lashana Lynch.
It is imperative that in order to be eligible for reimbursement, at least 10% of the key production prices of a film must be similar to the activities in the United Kingdom. To prove this to the government, the studios have set up a separate film production company in the UK for each of the films they make there. She is guilty of each and every aspect, from pre-production and principal photography to post-production, delivering the finished film, and paying for goods and facilities in connection with it.
These corporations will have to publicly record their financial statements, which lifts the veil on the exact cost of making movies. The records show everything from headcount and salaries to overall prices and the point of reimbursement of the money.
As with all UK businesses, financial statements are published in stages well after the generation they refer to, which is why Supreme Works Productions II presented its financial statements for the year ending May 8, 2023 earlier this week. Facilities similar to the finished film, continue to recognize prices in their financial statements long after release. So while Multiverse of Madness’s most recent financial statements cover the year immediately following the film’s release, they still show that Disney still spent a total of $66 million (£52. 8 million) in that era.
As the chart below shows, this generated a total price of $414. 9 million, but then there was a $64. 3 million (£51. 4 million) refund from the UK government, bringing Disney’s net spending on Multiverse of Madness down to $350. 6 million.
The prices of Marvel movies based in the UK.
The biggest profit for the studios comes from box office revenue and they get around 50% of the total. Multiverse of Madness is Disney’s highest-grossing Marvel movie since the pandemic began, but it has yet to gross more than a billion dollars like many. of their predecessors have done so.
According to industry analyst Box Office Mojo, Multiverse of Madness grossed a total of $955. 8 million, bringing Disney’s percentage to $477. 9 million. Deducting prices of $350. 6 million, Disney made a profit of $127. 3 million at the box office, more than any other U. K. -based company. MCU movie since the pandemic began. Similarly, it’s also more than 3 times the amount Disney earned from 2011’s Captain America, one of the first MCU versions.
However, Multiverse of Madness’s profit was not only 12. 3% lower than its predecessor, but it even eclipsed 2013’s Thor: The Dark World, considered one of the biggest flops in the MCU. In its defense, Multiverse of Madness was released in May 2022. when the pandemic remains a fear for many viewers, but that didn’t stop Sony’s superhero movie Spider-Man: No Way Home from more than doubling its box office in five months earlier.
Multiverse of Madness didn’t fit in the box of Spider-Man: No Way Home
When it comes to earnings, none of the other MCU movies pack as much punch as Avengers: Infinity War and Avengers: Endgame. Together, they generated $1. 2 billion in box office profits, yet as they were done through the same Disney production company, it’s unimaginable to know how much goes into each film or how much each one costs.
By contrast, 2015’s Avengers: Age of Ultron, the only film made through Assembled Productions II and grossed $388. 4 million (£310. 7 million) but generated $383 million in profits. Similarly, the first Doctor Strange movie and Thor: The Dark World charge the full share of Multiverse of Madness’s value, making it not only one of the most beloved MCU movies, but also one of the most beloved movies of all time.
Earlier this week, Disney announced that in the three months to March 30, its overall profit grew 1. 2% to $22. 1 billion, and its media and content department generated more than any other segment of the company. However, media and content accounted for 20. 3% of the $3. 8 billion in operating profit, 59. 5% of which came from theme parks and cruise ships.
The colossal cost of video and TV streaming shows the only explanation for the decline in operating profit for Disney’s media and content division. The volume of production is also an obstacle, because the more there is, the greater the chances of failure and the more the market becomes saturated.
As a result, Iger told analysts that he had “worked hard with the studio to decrease production and focus more on quality. “He added that when it comes to the MCU, “we’re moving to slowly minimizing the volume and probably moving to about two TV series a year from 4, and reducing our film output from maybe 4 a year to two, at most. ” maximum three. “
A third installment in the Doctor Strange series has yet to be greenlit, and given the responsibility of making the second, it could end up being the Sorcerer Supreme’s final act.
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