The much-anticipated release of Joker: Folie à Deux, the sequel to the 2019 blockbuster Joker, has turned out to be one of 2024's biggest disappointments at the box office. While the original film, centered around Arthur Fleck's dark transformation, earned over $1 billion worldwide on a modest budget of $55 million, the follow-up, boasting Lady Gaga alongside Joaquin Phoenix, has struggled significantly since its premiere.
Initially projected to rake in about $70 million on its opening weekend, Joker: Folie à Deux managed to garner only approximately $37.6 million. This stark comparison to its predecessor is not only surprising but has also set the film on track to become what many are now calling a financial bomb. With production costs estimated around $200 million and additional marketing expenses likely exceeding $100 million, the film must work hard to even touch its break-even point.
Critics and audiences alike have panned the sequel. A mere 33% rating on Rotten Tomatoes and a poor “D” rating from CinemaScore signal widespread discontent. Many fans of the first film have expressed confusion and disappointment over the musical approach taken by director Todd Phillips. Following Arthur Fleck’s arrest, the sequel omits the raw darkness of its predecessor for song-and-dance numbers and seemingly disconnected plot points.
Warner Bros. took considerable risks with Joker: Folie à Deux, banking on the success of the first film and the star power of Phoenix and Gaga. Hopes were high as the film aimed to explore not just the psyche of the iconic character but also the relationship with Harley Quinn. Instead, initial feedback has suggested it may only resonate with die-hard fans rather than drawing new audiences.
This year's box office has not been kind to other major releases either, as studios across the board continue to grapple with changes brought on by the rise of streaming platforms. Films like Borderlands and Argylle, both featuring star-studded casts, have similarly fallen flat, reinforcing the uncertainty hanging over big-budget projects.
Despite displaying all the major hallmarks of blockbuster filmmaking — high-profile cast, substantial budget, and established characters — the film’s lack of box office momentum reflects broader industry challenges. The emergence of streaming services has reshaped how audiences consume media, creating hurdles for theatrical releases attempting to compete for attention against the convenience of watching from home.
The market's reception suggests audiences are increasingly selective, swayed by the quality and nature of the storytelling rather than brand loyalty or star power. With the immediate availability of content through platforms like Netflix and Amazon, viewers may hesitate to spend on films with poor reviews, as evidenced by the lack of interest shown to Joker: Folie à Deux.
Hollywood's box office environment is expected to remain tumultuous as it navigates these shifting paradigms. Critics have questioned whether the model of judging success by ticket sales still holds merit when audiences can opt for streaming options with just the click of a button. Movies are often judged not just on what they gross, but rather on their ability to leave lasting impressions on viewers.
The failure of Joker: Folie à Deux serves as both a cautionary tale and perhaps a chance for rethink within the industry, as filmmakers and studios must assess the current cinematic climate. With significant resources invested and expectations soaring, the poor performance of Joker: Folie à Deux may signify the need for studios to recalibrate their approach to producing sequels and original content alike.
Over the next week, Joker: Folie à Deux is set to become available on digital platforms less than four weeks after its release, showcasing the studio's quick pivot to capture the audience via home entertainment.
All signs may point to this sequel being labeled as one of 2024's biggest flops, but the industry always has room for turnaround stories. Will Joker: Folie à Deux find renewed interest as it transitions to home viewing? Time will tell, but for now, it stands as a stark reminder of the unpredictability of modern blockbuster filmmaking.
