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Why ‘Snake Eyes’ Missed Its Mark at the Box Office — and What It Means for the ‘G.I. Joe’ Franchise

Why #SnakeEyes missed its mark at the box office -- and what it means for the #GIJoe franchise

7/25/2021 11:53:00 PM

Why SnakeEyes missed its mark at the box office -- and what it means for the GIJoe franchise

At the box office, “Snake Eyes” is ringing true to its moniker. The latest “G.I. Joe” installment, an origin story starring Henry Golding of “Crazy Rich Asians” …

” is ringing true to its moniker.The latest “G.I. Joe” installment, an origin story starring Henry Golding of “Crazy Rich Asians” fame, fell short of expectations, collecting a paltry $13.3 million in its first three days in North American theaters. Those ticket sales put “Snake Eyes” in second place on domestic charts, behind M. Night Shyamalan’s mind-bending thriller “Old” and

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its $16.5 million debut. It’s an embarrassing start for “Snake Eyes,” which cost $88 million to produce, not including the many millions spent on global marketing. It also illustrates the limits of franchise filmmaking at a time when studios are always on the hunt for the next big thing.

Unfortunately for Paramount Pictures and director Robert Schwentke, unfavorable reviews didn’t help elevate the profile of a reboot to a long-in-the-tooth series that already wasn’t particularly beloved by audiences. “Snake Eyes” has a 42% on Rotten Tomatoes and a “B-” CinemaScore from audiences, suggesting the PG-13 film may not rebound in the coming weeks. Box office receipts weren’t cannibalized by “Space Jam: A New Age,” which opened last weekend and appealed mostly to family crowds, nor “Old,” which skewed slightly female (52% of ticket buyers) and people above the age of 25 (62% of sales). For “Snake Eyes,” 60% of patrons were male and 50% were under the age of 25.

Though the movie theater industry hasn’t fully regained its mojo during the pandemic, box office experts suggest that rising concern over the Delta variant of COVID-19 isn’t entirely to blame for the lack of turnout for “Snake Eyes” either. One of the film’s biggest moviegoing markets was Los Angeles, where infection rates have been spiking and county officials have reinstated mask mandates.

Popular on VarietyBox office analysts suggest that now, more than ever, moviegoing masses have been choosier about what they opt to leave the house to see.“Moviegoing and general household economics are both still in recovery mode,” says Shawn Robbins, the chief analyst at Box Office Pro. “Potential audiences are being selective with what they spend their money on.”

Industry insiders estimate that “Snake Eyes” will need to generate approximately $175 million to break even and justify its $88 million budget. Arriving after several big-screen delays due to COVID-19, the film may struggle to achieve that particular objective. “Snake Eyes” didn’t fare much better at the international box office, where it generated a meager $4 million from 37 overseas markets. However, that represents just 29% of its international footprint. On the plus side, “Snake Eyes didn’t cost as much as its franchise predecessors. The first two entries had combined price tags near $320 million.

The original property, which previously starred Ray Park, failed to achieve box office juggernaut status, even though they turned a profit. The critically derided “G.I. Joe: The Rise of Cobra” in 2009 and equally bad review-plagued “G.I. Joe: Retaliation” in 2013 opened to $54 million and $40 million, respectively. Each cleared $300 million worldwide — a good, but not great result given their hefty budgets. It’s highly unlikely “Snake Eyes” will come close to those ticket sales.

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“When a character is spun-off in a thriller series like this, a big drop follows,” says David A. Gross, who runs the movie consulting firm Franchise Entertainment Research. Read more: Variety »

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Maybe if Paramount cast Scarlett Johansson or Emma Stone as Snake Eyes it woulda been a hit. 🤣 Samara looking good. Who the fuck ever cared about the G.I. Joe film 'franchise'? It failed because zero people were asking for a Snake Eyes movie. If the studio couldn't see that based on previous box office and lack of interest in GI Joe that's on them.

Or it means the movie was shit and the action scenes were fucking shaky cam bullshit There’s still a pandemic happening, you know that right? Right? _CIAD_ They're jumping through hoops to avoid stateing people didn't want a race swapped Snake Eyes who doesn't wear his mask and talks throughout the entire film.

Just saw it today the problem for me was the crappie Camera work in the action sections to hide the fact that they were using crazy Rich Asians guy but need to be a ninja in the action scenes so they had to cover it up as best I can with bad camera work It just wasn't great. I wanted it to work. Snake Eyes and Black Widow highlights the problem with these origin movies they have very limited appeal as for most they know enough of the back story of characters in previous films so seeing them do it is far less exciting as Han Solo doing the Kessel run in 12 parsecs in Solo

I really enjoyed the movie. And I have been a G.I.Joe fan for over 30 years.

Box Office Twist: M. Night Shyamalan’s ‘Old’ Beats ‘Space Jam’ and ‘Snake Eyes’In a twist fitting for an M. Night Shyamalan thriller, “Old” is the No. 1 movie at the domestic box office with $16.5 million in ticket sales. Heading into the weekend, reigning champ &… Whoever is presiding over the loony tunes IP is really screwing it up. Not sure why it's a twist. Shyamalan's movies tend to open 1. darkavm Is a good time to stop fear co-vid and start fear time . Again!

forgottenfigur1 Perhaps they should realize less Snake Eyes (and ninjas in general) are more. If they continue to miss the heart of GI Joe they will never get it right. Who cares about GI Joe these days? When you get a handsome celebrity to play a guy who is known for wearing a mask and not speaking.. you run the risk of “playing if safe” trying to get a wider audience (kids) by making it an MCU movie.. nothing special about the martial arts in this martial arts movie 🙄🙄

Nothing, it's a pandemic...

Box Office: ‘Old’ Slithers Past ‘Snake Eyes’ to Top Slow Weekend With $16.5MM. Night Shyamalan is scoring another No. 1 win at the domestic box office, where his thriller Old is slithering past fellow new offering Snake Eyes: G.I. Joe Origins to win the spoils of an overal… I mean what do u expect, when u go away from the history of G.I.Joe & SnakeEyes u will lose the audience that pays for the tickets! Hollywood still hasn’t learned!! that’s cause nobody asked for snake eyes. that would have probably done more business if it was released on streaming services at the same time as theater So what's NATO's excuse for Snake Eyes and Old underperforming as neither were released on VOD alongside theatrical

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Opinion | For an hour, 'Snake Eyes' is honestly good. Then it starts to sell toys.The original premise of the 'G.I. Joe' franchise ages pretty badly. But scripts written by the great Larry Hama breathed a different life into the adventures.

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