Lionsgate has tripled the production of Power Rangers Movie. $120 million is the magic number after the film’s production cost increased from $35 million. This could be a huge risk for Lionsgate considering that movie adaptations of popular franchises are often a hit or miss. But it will be depending on the film’s accuracy in portraying the original source.
A decade after the first movie based on the color coded team of futuristic warriors came out. Nostalgic fans were ecstatic when they first heard that a sequel/reboot was being put to the table. After numerous TV incarnations in the 90s, Mighty Morphin Power Rangers is once again ready to be screened in cinemas.
This could prove to be a gold mine as team-based superhero movies seems to be all the rage in the theaters these days. But fortune favors the bold which makes it no surprise that Lionsgate raising the stakes for the Power Rangers Movie.
Power Rangers Movie Risky As Production Cost Tripled
While movies have the tendency to go over budget, going three times the original cost is not something to be taken lightly, as reported by Movieweb. In addition to a potential loss, the movie must earn twice the production cost in order to make a profit.
Its predecessor is two decades old from what many consider a bygone era. This new incarnation has no new material to base upon and will rely on the source itself. As far as the recent clip from the movie is concerned they are doing just that, Gizmodo confirmed.
This means that Lionsgate is essentially starting from scratch. The reboot could revitalize the franchise. It can open new opportunities for sequels like what Prometheus did for the Alien franchise. It could also crash and burn like the 2015’s Fantastic Four reboot.
Accuracy will be the key to success here by changing as little as possible to keep its nostalgia factor. At the same time making it relevant and up to date is also mandatory in order to reintroduce the franchise to a newer audience.
This should be no problem for Lionsgate considering the success of the Hunger Games films. With Dean Israelite at the helm, Liongate’s CEO Jon Feltheimer’s plans for doing many sequels could become reality.
$120 million isn’t really that big considering that most films in the genre are already way past the $100 million in terms of production cost. Lionsgate might just be taking Power Rangers Movie with a grain of salt considering that franchise reboots are risky.
Photo Source: Facebook/Power Rangers Movie