On the heels of a record-breaking summer at the box office, Tom Cruise’s “Digger” is now on track to become one of the deepest Hollywood money pits of all time.
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The environmental satire, which stars Cruise as a reckless oil tycoon, saw ticket sales plunge 60% in its second weekend — putting the film on pace to lose $245 million.
Production costs for “Digger” are estimated at $160 to $180 million, with an additional $100 million spent on marketing the film and another $15 million likely set aside for an awards season campaign, bringing total spending to roughly $350 million, according to Variety.
After two weekends in theaters, the film has grossed $35.3 million globally.
“Digger” is now anticipated to earn just $50 million globally — putting the film in the bracket of biggest box office bombs in Hollywood history, alongside “The Marvels,” “John Carter,” “Cutthroat Island” and “The Lone Ranger,” all of which lost around $200 million.
In response to the dismal turnout to “Digger,” a string of Hollywood stars, including Jane Fonda, Anne Hathaway, Glen Powell and Guillermo del Toro, came to the film’s defense, praising it and encouraging audiences to return to theaters.
Still, Cruise said last week that he “never thought of movies when I’m making them (in terms of) opening weekend,” adding that he places greater emphasis on making films that “will translate, last and evolve.”
But “Digger’s” projected performance is a stark departure for Cruise, who has become one of Hollywood’s most reliable names at the box office. His films, including franchise juggernauts “Mission: Impossible” and “Top Gun” have generated massive box office earnings.
Meanwhile, “The Social Reckoning,” a follow-up to 2010’s “The Social Network,” stumbled to a weak $4 million opening over the weekend, while also receiving lackluster critics reviews. It’s a fraction of what “The Social Network” opened at 16 years ago, earning $22.4 million during its premiere weekend.
“This is a weak opening for the second episode in a drama series,” wrote David A. Gross, who publishes the box office newsletter FranchiseRe.
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