Why Indiana Jones 5 & Mission Impossible 7 Could Lose Millions At The Box Office

Once considered to be surefire hits at the box office, "Indiana Jones and the Dial of Destiny" and "Mission: Impossible — Dead Reckoning Part One" could potentially lose millions at the box office.

Audiences are eager to return to cinemas, as signalled by the steady growth the box office has had in the wake of the COVID-19 pandemic. Compared to 2020, which saw theatres shutter their doors, the 2023 box office is up by over 250% year to date. With a domestic total north of $6.4 million as of mid-August, the box office is consistently swinging upwards and has already outpaced 2022's haul of $5.1 billion, per BoxOfficeMojo. While cinema owners must be gleaming with joy to see auditoriums packed, studio execs are likely scratching their heads as to why certain projects are bringing in less hauls than expected.

This year's summer box office has shaped up to be one of the most interesting in recent memory, thanks in part to the several disastrous and underwhelming runs certain films have had. While "Barbie" and "Oppenheimer" have dominated the cultural conversation, operating as twin flames who propped up one another up at the domestic and international box office, the biggest surprise this year is how "Indiana Jones and the Dial of Destiny" and "Mission: Impossible — Dead Reckoning Part One" could possibly emerge as bombs for their respective studios. 

Despite being key additions to beloved, critically-acclaimed, and billion-dollar grossing franchises, "Dial of Destiny" and "Dead Reckoning Part One" haven't made much of an impression at the box office, thanks in part to their bloated budgets, which make them some of the most expensive films of all time. While COVID-19 certainly impacted the productions of both projects, it's hard to deny how the cinematic landscape has changed since each respective sequel released their predecessor.

"Indiana Jones" isn't the only franchise in town that's set to lose a massive amount of money. Variety also says that "Mission: Impossible — Dead Reckoning Part One," the seventh entry in Tom Cruise's spy franchise, is on track to lose a considerable chunk of change for Paramount Pictures. While "Dial of Destiny" began filming when assured protocols were put in place to reduce exposure and infections, "Dead Reckoning Part One" was one of the few projects forced to halt production in the early days of the COVID-19 pandemic. Originally set to roll cameras in early 2020, filming began in September of that year, with production concluding in 2021 after several pauses related to local restrictions and positive COVID-19 cases. 

Many will likely remember the now-iconic leaked recording of Cruise chastising crew members on the film's set for not following COVID-19 protocols which went viral, establishing how serious the franchise star was about the film's success. "We are the gold standard," Cruise said in the recording obtained by The Sun. "They're back there in Hollywood making movies because of us!" Paramount certainly had faith in the picture, reluctantly awarding it a budget of nearly $300 million. 

While speaking with Variety, Paramount CEO Brian Robbins candidly discussed how his company was in a "stalemate" with Cruise and director Christopher McQuarrie over the film's budget, which increased due to COVID-19 shutdowns and the creative team's insistence of featuring a submarine in the film. "It was a production issue, and it was about the scope of what was being asked for," Robbins said. Ultimately, the seventh "Mission: Impossible" outing likely won't turn a profit unless it makes over $600 million worldwide, according to Variety. As it stands, Ethan Hunt's latest adventure boasts receipts just over $540 million. 

"Mission: Impossible — Dead Reckoning Part One" is the most expensive film in the franchise and it seems warranted. The near three-hour-long film is filled to the brim with intense action sequences and stunts, making it one of the most compelling entries in the "Mission: Impossible" franchise — at least on paper. The film debuted to $55 million stateside, and has thus far grossed a total shy of $165 million. As summer begins to wrap up, it's all but unlikely that Ethan Hunt's (Tom Cruise) most impossible mission yet will cross over $200 million, a total which 2018's "Fallout" casually passed during its sixth weekend. Internationally, the film is underperforming per "Mission: Impossible" standards, boasting a total of $376 million, with China leading with a $45 million+ haul. 

While "Fallout" grossed over $786 million, "Dead Reckoning" is in limbo thanks to a sub $550 million gross, requiring $600 million to boast a profit, per Variety. Why is "Dead Reckoning Part One" not living up to the franchise's high expectations? A number of factors are at play but it's clear that reception has nothing to do with. "Part One" boasts an A CinemaScore and some of the best reviews the franchise has ever received. 

Despite that, the film's mid-July release didn't do it any favors, as the film clashed with the box office phenomenon that was "Barbenheimer." Both films robbed "Dead Reckoning Part One" of an eager audience and its ability to perform in PLF (Premium Large Format) auditoriums, cutting away the possibility to rake in on higher ticket prices. It also faced significant competition from the controversial "Sound of Freedom," which has grossed more than the Cruise-starrer domestically. If "Dead Reckoning" had a toned down budget, it would have already boasted a modest profit by now.