If you look at the various editions of the seven books, you’ll find that there are covers that feature drawings that look like they belong in children’s fiction, but then you’ll also find editions that are labeled “ adult edition covers” or the like.
Rowling first wrote the Harry Potter books to be children’s fiction. The method might be discouraging to cast and crew members, but the accounting technique doesn't seem to be disappearing.Not a lot of people know this, but J.K. more recently, Universal Pictures claimed a loss of $87.8 million for their romantic-comedy, Yesterday, despite making $153 million compared to a $26 million budget. Stan Lee also filed a lawsuit against Marvel when he didn't get his agreed cut of profits despite Spider-Man's $800 million in revenue in 2002. A few years later, Paramount Pictures reported Coming to America didn't make a profit, leading to a lawsuit from writer Art Buchwald. Lucasfilm did something similar with Return of the Jedi. on Harry Potter and the Order of the Phoenix certainly wasn't the only known examples of Hollywood accounting. inflated fees, so there weren't any earnings to share. Essentially, this method hurt the cast and crew set to earn percentages of the net profit, considering Warner Bros. They also reported a $60 million interest fee, which was a rate far higher than the industry average. and Harry Potter's case, the studio claimed they spent enormous fees on distribution, advertising, and print, resulting in the $167 million loss.
This, in turn, lowers the amount corporations need to pay in taxes, royalties, and profit-sharing agreements.
#HARRY POTTER AND THE ORDER OF THE PHOENIX RELEASE DATE MOVIE#
Hollywood accounting, aka Hollywood bookkeeping, is a movie industry financial method used by studios to inflate expenditures in an effort to reduce net profits. Harry Potter and the Order of the Phoenix Is A Prime Example Of Hollywood Accounting But it all came down to Hollywood accounting. While any feature film accrues major expenses, it's difficult to believe a movie that made close to a billion dollars worldwide would be in the red. According to leaked financial documents (via Deadline), the studio reported a loss of over $167 million on the film.
made a hefty profit on the fifth Harry Potter movie, but that wasn't the case. In total, Harry Potter and the Order of the Phoenix made around $942 million worldwide, making it the second-highest-grossing film of 2007, just behind Pirates of the Caribbean: At World's End. With a budget in the $150-200 million region, it was assumed Warner Bros. Related: Casting The Original Order Of The Phoenix For HBO Max's Harry Potter Show To further prepare for what was to come, Harry and his friends founded " Dumbledore's Army," a secret group training in defensive spells. Meanwhile, Harry and the rest of the Hogwarts students were forced to deal with the new Defense Against the Dark Arts professor, Dolores Umbridge. Members of the Order of the Phoenix warned how oblivious the Ministry of Magic was to Lord Voldemort's return. Rowling of the same name, Harry Potter and the Order of the Phoenix followed Harry's fifth year at Hogwarts.
decided to go with a creative yet controversial accounting technique.īased on the 2003 novel by J.K. Despite the achievements in theatrical gross, Warner Bros. The fifth installment of the Harry Potter franchise sits in fourth place among the series' top box office performers, only behind both Deathly Hallows entries and Harry Potter and the Sorcerer's Stone. reported a loss in profit from the 2007 film. Harry Potter and the Order of the Phoenix nearly hit the $1 billion mark at the worldwide box office, but Warner Bros.
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