Lionsgate CEO: Johnny Depp’s ‘Mortdecai’ Was ‘Clearly a Disappointment’

Jon Feltheimer says his company limited its financial exposure in three key ways

Last Updated: February 6, 2015 @ 12:03 PM

Lionsgate CEO Jon Feltheimer labeled Johnny Depp‘s “Mortdecai” as a “disappointment” on a Friday morning earnings call.

That said, the executive explained that his company limited its financial exposure in three key ways, and that the box office and critical bomb’s losses were “manageable.”

“Obviously, not all of our films work, and last month’s ‘Mordecai’ was clearly a disappointment,” Feltheimer told reporters. “However, given the number of ways we limited our exposure — including pre-licensing international rights, curtailing the marketing spend and taking on a production partner — we will have incurred a very manageable loss.”

“Mortdecai” — which also stars Gwyneth PaltrowEwan McGregor and Olivia Munn — is Depp’s fifth straight box office flop. Those other four nonstarters were “Transcendence,” “The Lone Ranger,” “Dark Shadows” and “The Rum Diaries.”

Depp’s latest effort, directed by David Koepp, pulled just $1.4 million with its Friday, Jan. 23 nationwide opening.

Also on the call, Lionsgate revealed that “The Hunger Games: Mockinjay – Part 2” will be released in IMAX 3D on Nov. 20, the previously announced opening day for traditional theaters. Additionally for that blockbuster franchise, Lionsgate announced the date and location for its previously announced planned franchise-themed exhibition, which will open in New York City’s Times Square on July 1 for a six-month run.

On Thursday, Lionsgate reported its quarterly earnings, topping consensus earnings per share estimates by a penny.

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