Disney Delays Release of ‘Pirates of Caribbean 5′

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The Jerry Bruckheimer-Johnny Depp sequel had been set for July 2015 and is now on hold

Disney on Tuesday put  “Pirates of the Caribbean 5″ on hold. The next installment in the franchise from producer Jerry Bruckheimer and star Johnny Depp had been scheduled to be released on July 10, 2015.

The franchise has been a huge moneymaker for Disney, with the first four films having taken in $3.7 billion worldwide, and insiders say the studio is now hoping for a 2016 launch. But Bruckheimer and Depp misfired badly on this summer’s megaflop “The Lone Ranger,” resulting in a $190 million write-down for Disney, and the actor’s box-office clout isn’t what it once was.

While the “Pirates” movies and “Alice in Wonderland” have been moneymakers, “Dark Shadows,” “The Rum Diary” and “The Tourist” are a few of the underwhelming projects starring the quirky actor in recent years.

Also read: Johnny Depp’s Tonto Tanks: Is ‘Lone Ranger’ One Flop Too Many for the Star?

Disney’s summer 2015 schedule had been crowded. On Monday, the studio shifted its Edgar Wright Marvel movie “Ant-Man” from November to July 15. It also has “Avengers: Age of Ultron” set for May 1 and Pixar’s “Inside Out”  slated for June 19.

While the domestic returns on the “Pirates” films have been declining, foreign grosses have risen significantly. Back in 2011, “Pirates of the Caribbean: On Stranger Tides” brought in $241 million in the U.S., the lowest of any film in the series. But its $802 million foreign haul was the best of any of the films, and gave it a $1.04 billion global total.

Also read: Disney Shifts Marvel’s ‘Ant-Man’ to Summer 2015 — Sets ‘Man of Steel’ Sequel Showdown

There is reason for Disney to get the film right, because the effects-heavy “Pirates” movies are major investments. The production budget for “On Stranger Tides” was $250 million.