There is a whole lot of excitement from a whole lot of nostalgic millennials about the upcoming Power Rangers movie. Lionsgate is just going to have to hope that they all turn out to see the movie in theaters, or they could be in trouble because this reboot didn't come cheap. As it turns out, the new Power Rangers movie wound up costing a lot more than was originally expected.
It was originally rumored in the early stages of this Power Rangers movie coming together that it would have a production budget of around $35 million. Things change and a lot of times movies go over budget, but in this case, the movie wound up being triple the original rumored budget. According to the Toei Films Twitter account, Lionsgate's Power Rangers reboot had a budget of 12 billion yen, or $105 million. That makes this movie a lot more risky for a few key reasons.
For one, $105 million is just what the production wound up costing. That is before marketing which, for a movie like Power Rangers is going to be very expensive. A general rule of thumb is to double the production budget and that represents a rough break-even point for the studio. That means Power Rangers will have to make more than $200 million to be profitable. That is certainly possible and even likely considering the excitement, but we haven't had any critic reactions to the movie yet. If Power Rangers isn't a very good movie it could be a lot trickier to make the money Lionsgate is hoping it can in order to turn this thing into a franchise. At $35 million it would have been much easier to make some money and possibly up the budget for a second installment. Now Lionsgate has a tremendous amount riding on this first movie.
The jury would be out on how much money Power Rangers is going to make anyway, but it will also be facing some insanely stiff competition this month. Logan was just released and is currently tearing it up at the box office. Next weekend will see the release of Kong: Skull Island, which has been getting favorable reviews and should also do pretty well. But the real competition will be coming in the form of Disney's Beauty and the Beast, which is set for release on March 17 just a week before Power Rangers. Beauty and the Beast should have a monster first weekend and it stands to reason it will have a great second weekend as well. Couple that with the release of the R-rated Chips reboot and the sci-fi flick Life coming out the same weekend as Power Rangers and it could be very tough for Lionsgate to make the money they need.
We'll have to see how this all shakes out, but this is certainly interesting and something to think about as Power Rangers approaches. The cast for the movie includes Bryan Cranston as Zordon and Bill Hader as Alpha 5, as well as Elizabeth Banks as the villain Rita Repulsa. The Power Rangers themselves are being played by promising up-and-comers. Me and Earl and the Dying Girl's RJ Cyler is playing the Blue Ranger with Darce Montgomery as the Red Ranger, Naomi Scott as the Pink Ranger, Ludi Lin as the Black Ranger and Becky G as the Yellow Ranger. Power Rangers is being directed by Dean Israelite and is set for release on March 24.