Why did Joker 2 lose so much money? And how on earth did it cost so much in the first place?
2025-08-14
Joker's Folie à Deux: A Cautionary Tale of Blockbuster Missteps
The highly anticipated sequel to the 2019 hit "Joker," titled "Joker: Folie à Deux," has faced a disastrous box office debut, leaving Warner Bros. Discovery executives scratching their heads. With a catastrophic .7 million opening weekend and an 81% second-weekend drop, the film's performance has been nothing short of a calamity, raising questions about the studio's decision-making and the viability of such ambitious reinventions of beloved comic book characters.
A Risky Reinvention That Fell Flat
The Ambitious Sequel's Downfall
The sequel's box office implosion has been nothing short of staggering. With a worldwide take currently standing at a paltry 5 million, the film is projected to lose a staggering 5 million to 0 million, depending on whose budget estimate you believe. The 0 million price tag, which includes hefty paychecks for director Todd Phillips, star Joaquin Phoenix, and supporting actress Lady Gaga, has clearly hobbled the film, leaving it in need of as much as 5 million to break even.
Pandemic Desperation and Misguided Decisions
The exorbitant budget seems to be the result of pandemic-fueled desperation for a surefire hit when cinemas reopened. However, the decision to turn the film into a musical, reportedly first considering it as a Broadway play, was a risky one that never seemed likely to connect with the original's core audience of Joker fanboys, let alone the embittered incel quotient whose preoccupations it channeled.
Chastising the Fanbase and Auteur Ambitions
Director Todd Phillips' apparent desire to course-correct after accusations that he had indulged toxic fandom in the first film has also backfired. Chastising the fanbase so openly is tantamount to box office self-harm, and the impunity of a 0 million budget seems to have led Phillips to mistake the sequel for an auteur film, operating with weak oversight and refusing to liaise with the new DC heads.
The Sequel's Struggle to Capture Lightning in a Bottle
The original "Joker" film had a lightning-in-a-bottle factor, touching on themes of emasculation, repression, and demagoguery's potential with exploitation-flick glee. However, the sequel struggles to tap into similar energies, largely concerned with a dank deconstruction of the Joker persona and hammering the audience over the head with further facile point-scoring about the American addiction to fame.
Implications for the Struggling DC Universe and Beyond
The film's nosedive will have repercussions for the still-floundering DC and beyond. This kind of overly conceptual punt will surely become verboten in blockbusters for some time, and it raises questions about the future of other returning icons, particularly the James Bond franchise. The almighty flop may also force Hollywood to reconsider the practice of squeezing beloved IP until it has no more juice to give.
A Subversive Act or a Premature Message?
Director Todd Phillips may view the Folie à Deux debacle as a great act of subversion within the corporate studio system, akin to the anarchic BBS outfit of the 1970s. Alternatively, the film's powerful moments, such as Fleck's final eruption of involuntary laughter, suggest that its mood and message may have simply come a few months too early. If the political landscape shifts, Phillips' "banquet of cold psychological vomit" may come to seem horribly on the point, potentially earning the film a belated last laugh.