Ana De Armas Spinoff Results in Nearly $100 Million Loss for Lionsgate

‘Ballerina‘ Falls Short of ‘John Wick‘ Success Despite Strong Audience Scores

Lionsgate’s recent action thriller, Ballerina, has concluded its theatrical run with a worldwide gross of $132.4 million, against a production budget of $90 million. While the figure isn’t a complete failure, the film’s performance is considered underwhelming, notably when factoring in considerable marketing costs not included in the production budget.

Domestic earnings for Ballerina were notably weak, reaching only $58 million.The majority of the film’s revenue – $74 million – originated from international markets. Despite receiving a “Fresh” certification on Rotten Tomatoes with a 76% critics score, and an remarkable 92% audience approval rating on Popcornmeter, Ballerina failed to reach the box office heights achieved by the core John Wick franchise, even with a cameo appearance by Keanu Reeves as John Wick himself.

The film, set within the John Wick universe between Chapter 3 – Parabellum and chapter 4, centers on Eve Macarro (Ana de Armas), a skilled assassin seeking vengeance for her father’s death. Directed by Len Wiseman and writen by Shay Hatten, ballerina explores the assassin traditions of the Ruska Roma.

The news arrives following Lionsgate’s separation from Starz. Lionsgate CEO Jon Feltheimer has expressed confidence in the studio’s future, highlighting upcoming projects and growth strategies. He anticipates strong performance in fiscal 2027, citing three major film releases, a doubling of scripted television series deliveries, and continued innovation across various platforms.

A key component of this strategy is The Hunger Games: Sunrise on the Reaping, currently in production. Lionsgate is also actively developing a fifth John Wick installment, building on the franchise’s consistent success. The original John Wick (2014) proved a surprise hit,earning over $86 million on a $20 million budget,while John Wick: Chapter 4 grossed a remarkable $447.1 million worldwide, leading to the The Continental: From the World of John Wick television series on Peacock.

ballerina is currently available for rental on platforms like Prime Video and Fandango at Home, and will be released on Blu-ray, 4K UHD, and DVD on September 9th.

What specific creative differences led to the extensive reshoots for *Ballerina*?

The “John Wick” Universe Gamble Gone Wrong

Lionsgate’s ambitious expansion of the John Wick universe has hit a notable snag. A reported $95-100 million loss stems from the now-shelved Ballerina, a John Wick spinoff starring Ana de Armas.the project, initially conceived as a cost-effective entry point into broadening the franchise, ultimately became a financial burden due to a confluence of factors, including reshoots, creative differences, adn shifting market conditions. This represents a substantial setback for Lionsgate’s strategy of leveraging the John Wick brand.

Timeline of Trouble: From Advancement to Cancellation

The ballerina project was announced in 2023, aiming to capitalize on Ana de Armas’ rising star power and the established success of the John Wick action franchise.Here’s a breakdown of key events:

Initial Concept (2023): Positioned as a lower-budget spinoff,focusing on a young assassin’s journey.

Production Begins (2024): Filming commenced with Shane Leeming initially directing.

Creative Concerns & Reshoots (Early 2025): Reports surfaced of creative clashes and dissatisfaction with the initial cut, leading to extensive reshoots. Chad Stahelski, architect of the John Wick universe, stepped in to direct significant portions of the reshoots.

Release Date Delays (Mid-2025): Multiple delays signaled growing internal concerns.

Project Shelved (August 2025): Lionsgate ultimately decided to write off the project, taking a massive financial loss.

Key Contributing factors to the Loss

Several elements contributed to the substantial financial failure of Ballerina. Understanding these is crucial for analyzing the risks associated with franchise expansion.

Escalating Production Costs: What began as a budget-conscious spinoff ballooned in cost due to the extensive reshoots and Stahelski’s involvement. The cost of talent, including Ana de Armas, and the need for high-quality action sequences significantly increased expenses.

Creative Direction Issues: Initial reports suggest a lack of clear creative vision,leading to the need for substantial revisions. This highlights the importance of a cohesive artistic direction, especially within a well-defined franchise like John Wick.

Market Saturation & Action Genre Competition: The action genre is increasingly crowded. The timing of Ballerina’s release, facing competition from other high-profile action films, likely played a role in Lionsgate’s decision to pull the plug.

Franchise Fatigue: While John Wick: Chapter 4 was a success, there’s a potential for audience fatigue with the increasingly complex John Wick universe. A spinoff needed to offer a compellingly different experience to justify its existence.

impact on Lionsgate’s Franchise Strategy

The Ballerina debacle forces Lionsgate to reassess its approach to expanding the John Wick universe. The studio had been banking on spinoffs to maintain momentum and generate revenue beyond the core John wick films.

Increased Scrutiny of Spinoff projects: Future spinoffs will likely face much more rigorous evaluation and oversight.

Focus on Core Franchise Elements: Lionsgate may prioritize developing further installments of the main John Wick storyline before venturing into more experimental spinoffs.

Budgetary Restraint: A renewed emphasis on cost control and realistic budgeting for future projects is anticipated.

Potential Re-evaluation of Ana de Armas Collaboration: While not necessarily a complete severing of ties,Lionsgate may be more cautious about future collaborations with de Armas on large-scale franchise projects.

Ana de Armas’ Role and Career Trajectory

Despite the Ballerina setback,Ana de Armas remains a highly sought-after actress.Her recent successes, including Blonde and Ghosted, demonstrate her box office appeal and critical acclaim. This loss is more damaging to Lionsgate’s strategy than to de Armas’ career. She is currently attached to several high-profile projects, including Project Hail Mary and a Paradise Lost adaptation, indicating continued strong demand for her talent.

Lessons Learned for Studio Executives

The Ballerina* situation provides valuable lessons for studio executives considering franchise expansions:

1. Clear Creative Vision is Paramount: A well-defined and consistent creative direction is essential for maintaining franchise integrity.
2. Realistic Budgeting is Crucial: Avoid underestimating production costs, especially when reshoots are anticipated.
3. Market Analysis is Key: Thoroughly assess the competitive landscape and potential audience fatigue before greenlighting a project.
4. Franchise Expansion Must Add Value: Spinoffs should offer a unique and compelling experience that justifies their existence