Leonardo DiCaprio’s new film faces £80 million loss despite Oscar buzz

Leonardo DiCaprio’s latest epic One Battle After Another is facing serious financial losses, with industry analysts projecting a £80 million shortfall despite strong critical acclaim and heavy Oscar buzz. The film, directed by Paul Thomas Anderson and distributed by Warner Bros, has earned just over £115 million worldwide but needs roughly double that amount to break even.

The drama, praised as a generational masterpiece, has been a hit with critics yet failed to draw mainstream audiences. Costing around £100 million to produce and another £55 million in marketing, it has struggled to recover its costs due to shrinking theatrical windows and changing viewer habits. Sources say Warner Bros expected a much higher turnout from cinema-goers, but ticket sales have been disappointing since release.

The studio had hoped the film’s awards campaign could reignite momentum, but box office numbers suggest otherwise. Alongside DiCaprio, the film features an ensemble cast and has been positioned as a prestige production for the awards season. However, as Fandango analyst Shawn Robbins explained, such adult-oriented films have failed to create the kind of excitement that fuels blockbuster success.

‘These prestige-type movies have failed to create a sense of urgency among audiences,’ Robbins said, noting that viewers have become accustomed to waiting for streaming debuts. The reduced cinema-exclusive periods introduced after the pandemic have further discouraged immediate attendance.

Warner Bros has pushed back on reports of major losses, stating that One Battle After Another contributes to what has otherwise been a strong year, with the company crossing £3 billion in global box office revenue thanks to hits like Sinners and A Minecraft Movie. Still, insiders admit that DiCaprio’s lucrative first-dollar deal and the film’s high marketing costs make profitability difficult.

The film’s financial woes mirror those of other adult dramas this year, including A24’s The Smashing Machine and Roofman, both of which underperformed. Analysts warn that such results could make studios more cautious about investing in original content over established franchises.