Universal is presently the industry leader, experiencing success in every genre. While Universal’s current model aims to maximize profits while minimizing costs, the production’s decision to invest in “Renfield”, an R-rated horror thriller, is not yielding positive results. Overspending on this film is proving to be frustrating for the production as neither the buzz nor the box office projections are in its favor. It serves as proof that sometimes, going against one’s own rules does not result in profits.
Nicolas Cage’s Renfield Budget Revealed
Recent reports from Hollywood indicate that the horror thriller “Renfield”, produced by Universal and Skybound Pictures and starring Nicolas Cage and Nicholas Hoult, has a production budget of $65 million, not including marketing expenses. This figure is considered an overspending amount due to the film’s poor buzz as an R-rated film. As a result, the box office projections and industry estimates suggest that the makers are likely to incur losses.
Louisiana Economic Development reports that the total production cost of “Renfield” amounted to approximately $86 million. However, after tax rebates of over 40%, the makers’ expenses were reduced to around $45 million. After including salaries for the cast and crew, it brings the final total cost to $65 million, excluding prints and advertising expenses. According to industry sources, the makers allocated insufficient funds for marketing, and including break-even costs and all other expenses, the film ultimately cost the makers $150 million.
While $150 million may not be a substantial amount for a well-received film, “Renfield’s” lackluster buzz makes it a challenging figure to surpass. In simpler terms, spending such a significant amount on the film can be a burden for the makers, especially considering that low-budget films are also doing well for production. “Renfield” was produced by Robert Kirkman, David Alpert, Bryan Furst, Sean Furst, and Chris McKay under the production banner of Skybound Pictures and distributed by Universal Pictures.