Total trilogy chest for Depp $106 million, with P3 poised to dig up more gold
By Alex Ben Block
HOLLYWOOD, CA. (Hollywood Today) 4/26/07 – Johnny Depp has earned an estimated $78 million so far for “Pirates of the Caribbean: Dead Man’s Chest” including back end, apparently making him the highest paid actor ever.
Yo ho, that‘s not all the pirate life has in store for Depp. The swashbuckler’s share of the loot from the “Pirates Of The Caribbean” trilogy since 2003 now exceeds $106 million with another $40 million-plus on the line for P3, according to an analysis by Hollywood Today. It lifts him to the ranks of the best paid actors in history for a movie franchise, which he did not also produce.
While extensive research went into the estimates, one only has to look at the Top 20 worldwide grossing films of all time to realize one, and one star only, was central to a non-ensemble film with the clout to demand $20 million plus a 20% cut of the gross for a sequel. Not a terribly unusual marquee star deal in Hollywood, but P2 surprised everyone by grossing a staggering $1.07 billion. While Depp’s take is less than 20% after numerous contractual deductions, it’s still enough to account for the conservative estimate of $78 million.
No wonder Depp, 43, was able to buy his own island in the Bahamas to play pirate with five-year-old son Jack, seven-year-old daughter Lily-Rose and mate Vanessa Paradis. And soon, he’ll have enough to build a gold-plated pier if he wants. He is in line for an even bigger payday after Disney’s ultra wide May 25 release of the nearly three hour long “P3: At World’s End,” although reports of the picture’s soaring cost, if true, could delay additional payments. That is because under Depp’s deal, according to sources, Disney gets most of its production outlay back before the gross profit participants see any significant returns. However, in return, they participation is even better than the old first dollar gross deal. That is fine as long as the movie floats the public’s boat like “Dead Man’s Chest.”
There is no doubt P2 cost at least $225 million. Now there are reports the cost of P3 has soared toward $300 million, especially when marketing in added in.
So the challenge for super producer Jerry Bruckheimer, star Johnny Depp and their talented crew: To be seen as a big hit, P3 needs to score as big or bigger than P2 in theaters, in the midst of a high competitive summer.
That won’t be easy. Here are some marks that have to be reached or broken: P2 became the highest grossing theatrical release of 2006 and one of the few movies ever to gross over $1 billion worldwide in theaters. The DVD was the top selling in home video for the year with over 15.5 million sold and the soundtrack sold over 221,000 copies at $18.98 each (retail).
The success of P2 was a surprise. It out performed expectations and set box office records with a $135 million opening, biggest of the year. It set a new high for a movie opening in July, or a movie opening in Summer. It had the highest per theater average for any wide release in 2006. It topped the All Time single Day mark on Friday, July 7 with $55.8 million. That also broke the opening day and Friday records. It then became the fastest to reach $100 million, which happened after the second day. It was the fastest to $200 million, setting a new mark of 8 days, and then fastest to $300 million, after 16 days.
Now P3 just has to do better than that to look good, and avoid the more typical pattern of movie sequels which are usually about 60 percent of the box office of the original.
Awareness of P3 is huge. The issue is want-to-see, at least on the first weekend. So far so good. P3 is tracking just as strongly as P2 did with possible ticket buyers, according to Michael Coristine of Brandintel, which provides marketing intelligence gathered through online surveys, interviews and searches. “Audience engagement and interest are very strong,” according to Coristine, “on a par with (P2).”
That doesn’t mean there isn’t still concern over how strong the legs will be for P3. “(P3) may not break records like (P2),” says Coristine. “A lot more people saw it but the sentiment for the film itself was not as high as on the first one. We may see a drop off in (interest) among those who saw it. Even though it may not break the records set by (P3) it definitely is still one of the strongest movies of the summer.”
It will need to be one of the most liked movies as well to propel repeat ticket sales and lucrative merchandising and licensing, which is massive.
The movie is being premiered May 19 as a benefit for the Make a Wish Foundation of America. For the first time they are selling tickets to the huge premiere, to be held at Disneyland in Anaheim, for $1,500 each. Disney hopes to raise $3 million for charity.
If it opens as big as expected, there may also be an announcement that Depp will star in the fourth and fifth and possibly sixth “Pirate” movies. They would be made together, keeping the franchise alive and profits coming for years more.
While the P2/3 writers, in interviews, say they only planned for a trilogy (which included adding P1 after the fact), Disney has a lot of motivation to keep “Pirates” sailing forth. Not only has “Pirates” been a hit in theaters and video stores, but it has also been an enormous revenue engine for licensing, merchandising, promotion and it has re-vitalized the theme parks where “Pirates” rides now bear the likeness of Depp’s Sparrow.
The surprising success of P1 and the blockbuster box office and soaring DVD sales of P2 have already put Depp in the rarefied company of a handful of other actors who have ridden franchises that spawned huge licensing revenues to almost unimaginable wealth; and he is one of the very few who didn’t also produce the movie (ala producer/star Tom Cruise in “Mission Impossible” or producer/star Mike Meyers in the “Austin Powers” movies or Bruce Willis on this summer’s “Live Free Or Die Hard).”
A few other actors might receive more upfront per film on occasion (Tom Hanks, Julia Roberts, Jim Carrey, Bruce Willis, Tom Cruise, Adam Sandler and Mel Gibson come to mind), but thanks to back end payments and licensing royalties, Depp stands among the highest compensated performers of all time from a single movie franchise.
Depp’s earnings come not just from his acting, but are also for use of his likeness on a mind boggling array of consumer products, in promotion and especially at the theme parks, where the Pirates Of The Caribbean ride has been remade since the movies became blockbusters to reflect the images from the movies, and the face of Depp’s Captain Jack Sparrow. Depp, in his last contract, signed for two movies. He has a separate contract for the merchandising rights and for the use of his character and image at the park, according to sources.
Depp is also unique in that while it is his face that is out front on everything, making him virtually irreparable. That is very different than many of the great commercial cinema franchises, including “Spiderman” and “Shrek,” the summer’s other two big sequels.
The central characters in most of the big merchandisable mega movie hits are part of a fantasy (Star Wars, James Bond, Batman), which means individual actors over time can be replaced; or voices in animation (Toy Story, Shrek) who can be replaced. The star is just a voice or is cloaked in a costume, as in “Spider-man” who isn’t nearly as interesting in real life. Among the current top licensing properties, the only human face is Depp’s Cap. Sparrow.
TOMORROW – Return to Hollywood Today Newsmagazine to find out how – and how much gold Depp will be actually be digging up and from where. (www.hollywoodtoday.net)
Hollywood Today Newsmagazine Senior Columnist Alex Ben Block is a best selling author and radio commentator and was formerly Editor of The Hollywood Reporter and TV Week and associate editor of Forbes Magazine.