Magazine article Screen International

Disney Takes Lone Ranger Hit

Magazine article Screen International

Disney Takes Lone Ranger Hit

Article excerpt

Disney says loss on Johnny Depp western could reach $190m; total company revenue up 4%.

Disney has projected between $160m-$190m loss on summer tentpole The Lone Ranger.

The loss will be recorded for the quarter ending September 2013, chief financial officer Jay Rasulo said on a conference call with analysts after Disney announced quarterly results.

The Gore Verbinski-directed western, starring Johnny Depp, opened in the US and Canada on July 3 to a first weekend of only $29 million.

"There has been a lot said, I know, about the risk of basically high cost, tent pole films," Disney CEO Bob Iger told reporters, "and we certainly can attest to that given what happened with Lone Ranger."

"We still think the tentpole strategy is a good strategy," he said. "That one way to rise above the din and the competition is with a big film, not just big budget, but big story, big cast, big marketing behind it. …

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