News culture Mission Impossible 7 is finally profitable. A legal case spares Tom Cruise from a bitter failure!
Published on 09/15/2023 at 12:15
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While the film did not have the expected success, Mission Impossible: Dead Reckoning – Part 1 finally managed to break even… thanks to an unexpected insurance lawsuit.
An ultimately saving insurance problem
If Super Mario Bros., Barbie and Oppenheimer are the big winners at the box office in 2023, the same cannot be said of Mission Impossible: Dead Reckoning – Part 1. The seventh film in the adventures of Ethan Hunt, played by Tom Cruise, was not as successful as hoped by his studio. While the feature film has failed to make a profit since its theatrical release on July 12, the result of an unexpected trial linked to the filming changed the situation.
To put things in context, you should know that Mission Impossible 7 production was postponed seven times (by chance) between 2020 and 2021 due to the COVID-19 pandemic. To deal with this type of situation, studios are used to using insurance to limit losses in the event of a problem. Paramount therefore took out insurance from the Swiss insurer Chubb for the production of Dead Reckoning with a coverage limit of $100 million. Due to the numerous delays linked to COVID, Paramount requested compensation from the insurer who only offered one million dollars, before giving only 5.5 million while the coverage goes up to 100 million. So Paramount sued Chubb and ultimately won £57 million, or $71 million..
A lawsuit that saves the profitability of the film
Thanks to this sum of 71 million dollars, Mission Impossible: Dead Reckoning – Part 1 is finally profitable. Indeed, with its budget of 291 million dollars, the film only grossed 560 million worldwide when it had to collect at least 600 million to be profitable. Finally, thanks to this trial, the film with Tom Cruise has finally passed this symbolic threshold. Enough to reassure producers for the release of Part 2 scheduled for June 26, 2024.
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