EntertainmentMovie News

Mission: Impossible 7 Gets Massive Insurance Payout After Lawsuit-TGN

Summary

  • Mission: Impossible – Dead Reckoning Part One receives a huge insurance payout after a lawsuit, helping it become profitable despite a disappointing box office performance.
  • The movie’s extended production time and massive $291 million budget made it challenging to break even at the box office.
  • The insurance payout of approximately $70 million compensates for production interruptions and puts Mission: Impossible – Dead Reckoning Part One into the profitable zone.


SCREENRANT VIDEO OF THE DAY

SCROLL TO CONTINUE WITH CONTENT

Mission: Impossible – Dead Reckoning Part One receives a massive insurance payout after a lawsuit. Released in theaters on July 12, the seventh installment in the action series finds Tom Cruise’s IMF agent Ethan Hunt embarking on his most dangerous mission yet involving an omnipotent AI known as the Entity. It received some of the best reviews of the series, but because of its big budget and competition from Barbenheimer, the latest Mission: Impossible movie disappointed at the box office. However, after Paramount filed a lawsuit over Mission: Impossible 7, they have received a massive payout that will help the movie become profitable.

According to Collider, Paramount received approximately $71 million from the Swiss insurance company, Chubb, due to production interruptions caused by the COVID-19 pandemic. Paramount received an initial payment of only $5.5 million, but after filing a lawsuit against Chubb’s parent company, the Federal Insurance Company, they settled for the larger sum.


Mission: Impossible – Dead Reckoning Part One’s Insurance Payout Will Help It Become Profitable

Tom Cruise as Ethan Hunt in Mission Impossible 7 Dead Reckoning Part One Sitting in a Car with Money Flying Behind Him

Perhaps no other production was more affected by the COVID-19 pandemic than Mission: Impossible – Dead Reckoning Part One, which began filming in February 2020 before being shut down the following month. It wasn’t able to resume filming until much later in the year, with production taking place at exotic locales like Abu Dhabi, Rome, and Venice before wrapping filming in September 2021. These production interruptions caused the budget to balloon to $291 million, making it one of the most expensive films ever made, which compelled Paramount to seek compensation for its losses.

This massive budget made it much more difficult for the Mission: Impossible movie to become profitable at the box office, which was only exacerbated by the Barbenheimer phenomenon. By releasing on July 12, Dead Reckoning Part One only had one weekend all to itself before the biggest cinematic event of the year, the dual release of Barbie and Oppenheimer, began the following weekend on July 21. Christopher Nolan’s Oppenheimer also had an agreement to play exclusively on IMAX screens for three weeks, leaving Cruise and company out in the cold.

Related: Mission Impossible – Dead Reckoning Part 1 Cliffhanger Ending Explained

Typically, a movie needs to make twice its production budget in order to break even. Currently, Dead Reckoning Part One falls about $20 million short of that threshold with a total gross of $563 million worldwide. However, Mission: Impossible – Dead Reckoning Part One‘s insurance payout of approximately $70 million is more than enough to push the movie past the point of profitably.

Source: Collider

Key Release Date

  • Mission: Impossible 7 Gets Massive Insurance Payout After Lawsuit-TGN

    Mission: Impossible – Dead Reckoning Part Two

Leave a Reply

Your email address will not be published. Required fields are marked *