In its opening weekend, the highly anticipated movie, Speed Racer, generated only $20.2 million in U.S. ticket sales. To those Hollywood types, that is considered a giant flop (the movie reportedly cost $150 million to produce). So, let’s make a comparison – the new release Iron Man made $50 million dollars on its first weekend and to date has grossed a total of $177 million dollars. Over the next few weeks Speed Racer will slowly disappear from movie screens and will make the task of breaking even very difficult for this extravagant production.
This is a kids’ movie – in theory it should have been a huge hit. Experts are pointing to the fact that it was never made clear (in trailers and other movie marketing techniques) that this is a kids’ movie. If the parents don’t know a movie is a kids’ movie, then they won’t drag their kids to the movies during what is supposed to be a prime time opportunity for movie studios as the kids are being let out of school for the summer. The movie itself is a visual feast and should have done well but the blame is now being laid upon misdirected marketing and the studio’s preoccupation with “fan boy” sites. And, the boring corporate partnerships, like one with an insurance company, just seems way off the mark. Perhaps Speed Racer will become known as the “fastest flop in history.” Go Speed Racer. Go.