MGM’s latest release, the action thriller “Guy Ritchie’s The Covenant”, has entered the theaters with poor buzz despite the mostly favorable critical response from both the audience and critics as an R-rated film. Due to the poor buzz, despite excellent reviews, “Guy Ritchie’s The Covenant” has failed to impress its makers at the box office. It opened with too poor numbers at the table, and it is going to be a loss and a sure-shot failure for its makers and distributors.
Guy Ritchie’s The Covenant Box Office Performance
According to reports, “Guy Ritchie’s The Covenant”, starring Jake Gyllenhaal and Dar Salim, released in the USA on April 21, 2023, in over 2600 theatres, collected $2.25 million on its opening day (including Thursday previews) and $6.28 million on its opening weekend at the domestic box office, which is a poor debut for a medium budgeted R-rated film and also indicates loss for its makers. Overall, it has so far grossed $16.93 million dometically and $4.69 million, for a worldwide total of $21.63 million.
“Guy Ritchie’s The Covenant” had a production budget of $55 million before P&A, and it is estimated that the total cost, including marketing and other expenses, is around $100 million. Despite receiving positive reviews from critics, the film’s performance at the box office has been disappointing, and it seems unlikely to gross $100 million or turn a profit for its makers. Unfortunately, “Guy Ritchie’s The Covenant” is a Flop at the box office, and its performance will result in only a small loss for the producers. According to reports, due to the lack of buzz and poor performance, the film is expected to be pulled from theaters soon and released digitally to try and recoup some of the costs.
MGM has faced disappointment at the box office with Richie’s “The Covenant” after the stupendous success of “Creed III”. While marketing can be partly blamed for the failure, it is also true that producing new R-rated films is a big risk in today’s time. Although MGM has achieved success by working on R-rated films for a long time, it might be time for the production to shift gears and target a different audience, such as families. Following in the footsteps of Universal might be a wise move for MGM.
Talking about the critical response, “Guy Ritchie’s The Covenant” has received an IMDb rating of 7.5/10*, and on Rotten Tomatoes, it scored 83/100% based on 117 reviews from critics.