Nov 10, 2015 02:54 PM EST
Jem and the Holograms Pulled from Theaters After Disappointing Sales
Jem and the Holograms, the Universal Pictures live action remake of the 1980s cartoon, has been pulled from theaters this week. The film has only been running for two weeks.
With dismal earnings of $1.37 million in its opening weekend, the film continued to dive in sales, pulling in a mere $160 on average at each American theater playing the film.
They haven't even been able to break even, earning a total of $2.1 million compared to their $5 million budget.
Jeff Bock, senior box-office analyst at Exhibitor Relations, told Business Insider, "Theatre chains are contractually obligated to hold a film for two weeks after booking it. However, in all my days as an analyst, I've never seen a studio actually stop reporting after two weeks. This is unprecedented, and shows just how badly this film flopped. Not only is it the lowest-grossing debut for a studio film this year, but it's the worst all-time - by a considerable margin - for any film released in 2,000-plus theatres."
R.I.P. Jem and the Holograms.
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