Aaron Sorkin’s new Steve Jobs movie is expected to lose money after a bleak nationwide opening weekend in U.S. theaters. The biopic grossed just $7.3 million over the three days, a far cry from the $19 million earlier estimates had predicted.
Thanks to a strong opening weekend in select theaters earlier this month, Steve Jobs has grossed roughly $10 million in total. But that’s probably not enough, according to Variety.
“It’s still hard to see how the film turns a profit,” writes Brent Lang. “The picture cost $30 million to make and at least as much to market. That means that “Steve Jobs” needs to do at least $120 million in order to break even.”
Lang adds that the movie’s dialogue-driven approach and lack of a major star means its foreign prospects look bleak, making this figure a very unlikely target. Despite this, Universal is still optimistic Steve Jobs can recover.
Studio executives insist the movie is popular in urban areas like New York and San Francisco, and they point to its A minus CinemaScore, which suggests “word-of-mouth will be strong.” The belief is that if the movie can stay in theaters until Golden Globe and Oscar nominations are announced, it will be able to rebound.
“We are going to continue to support the film in the markets where it is showing strength and we’re going to continue to do it aggressively and proactively,” said Nick Carpou, Universal’s domestic distribution chief.
Steve Jobs is directed by Danny Boyle, and tells the story of the Apple co-founder and former CEO via three backstage scenes during major Apple keynotes. Alongside Michael Fassbender, who plays Jobs, the movie stars Kate Winslet as Joanna Hoffman, Seth Rogen as Steve Wozniak, Jeff Daniels as John Sculley, and Michael Stuhlbarg as Andy Hertzfeld.