International Markets Make Pirate Of Caribbean 5 A Hit
There is a sense of doom and gloom about the biggest box-office season this year. The summer, though seeing some good releases, hasn't hit the numbers like the previous year. Which is surprising considering we had Logan, Wonder Woman, Guardians of the Galaxy Vol. 2, Spiderman-Homecoming and Dunkirk release this calendar. Then there were small budget movies that did surprisingly well like Get Out, Baby Driver and Girl's Trip. But statistically speaking, Hollywood has had its worse summer in the last 17 years!
So where do we point the finger? While there have been good movies, there have been massive duds this year as well. Movies like Transformers, Ghost in a Shell, Bay-watch, King Arthur and Pirate of the Caribbean: Dead Men Tell No Tales are obvious examples. But, wait! Hold off the judgment on the last movie. Jerry Bruckheimer, the producer of Pirate of the Caribbean franchise has some news for you.
Whatever your opinion is of the Pirates series, it still is the 12th highest grossing movie this summer with $172 million in the domestic market. While it did earn $70 million less than the previous installment, it manages to find love with the international audiences. And that love is worth 600 million dollars alone.
Jerry Bruckheimer sure is buoyant about the news. He had this to say to Yahoo: “I think it did phenomenal. I mean, you’re talking about the fifth [film] in the series in a down market, and the American dollar is so strong that we’re getting less returns from foreign.”
If the foreign exchange rate were at the levels of the 2011 release, Bruckheimer thinks Pirates 5 would have easily crossed the billion mark. It makes an interesting case about the over growing influence of the international markets. But, movie studios should still tread with caution. Transformers hedged its bet in the Chinese market and it looks like the sequel fatigue is catching on there as well.