Things are not looking so hot for Universal Studios' current release Jem and the Holograms. In fact, things are looking so bad for the project that it seems to have been pulled from theaters after only two weeks of running -- an entirely unprecedented decision.
The project has been surrounded by negative press since early screenings in March of this year. Many critics claimed that the project didn't stay true to the original 1980's animated version, a kiss of death for film adaptations. Although producers begged fans to wait and pass judgment after seeing the film themselves, the October 22 debut was less than impressive.
Jem and the Holograms debuted as the 15th most watched movie in theaters, with sales of $1.37 million after being broadcast on 2,413 screens. Sales come out to an average of a paltry $547 per theater.
In the following week, the film grossed a total of $387,925, earning an unheard of $160 per screen in its second week of release. Not good news for the film...
Poor sales in the first week has earned the film an accolade, though it is not the most complimentary one imaginable. Critics claim that Jem and the Holograms is the fourth poorest performing film to debut to more than 2,000 theaters ever. Coupled with a 20% rating on Rotten Tomatoes, and the decision to pull the film from theaters makes sense.
Jem and the Holograms hasn't totally disappeared from theaters; however, it is being played at a significantly reduced number. Universal Studios also has no plans to unveil sales figures for the project after last weeks abysmal numbers.
On the bright side for Universal Studios, it's been speculated that Jem and the Holograms won't hit them too hard in the pocketbooks. Although the film has been described as a failure of epic proportions, the studio only allocated a budget of $5 million to the project.
Furthermore, the studio may have to claim ownership of the worst performing film in history, but they are also responsible for three of the top five grossing films this year! Jurassic World, Furious 7, and Minions all soared to the top of the charts and more than make up for the floundering efforts of Jem and the Holograms.
It's fair news for Universal Studios but pretty bad news for any future plans from the Jem and the Holograms franchise. It looks like this one is dead...