Leslie Grace, the star of “Batgirl” (Sean Zanni/Patrick McMullan via Getty Images)
Bye, bye, Batgirl... Warner Bros splurged $90M to produce "Batgirl," a movie based on the DC Comics character. Warner was planning to release it directly to its HBO Max streamer. Five years after the project kicked off, “Batgirl” was basically ready to go — but the public won’t see it.
Why not let “Batgirl” fly?… Insiders say the decision had nothing to do with the film’s quality, but was a result of shifting priorities. Remember when Warner’s then-CEO Jason Kilar decided to release all of Warner’s 2021 films on HBO Max at the same time as theaters? That’s not happening this year. Current CEO David Zaslav seems committed to box-office hits.
The “sunk-cost fallacy” doesn’t always apply… Sure, Warner threw $90M into this movie. But studios need eyes on their productions, and Warner likely thought the marketing costs for “Batgirl” weren’t worth it. Now it’s cutting its losses, and not without reason: Yesterday, Warner revealed that it swung to a $3.4B loss, in its first earnings since merging with Discovery. Shares tanked 12%.