Joker: Folie à Deux Cost More Than $200 Million, but Many Critics Can’t Explain Where the Money Went

The action? The musical numbers? Where is the $200 million?

Joker: Folie à Deux cost more than $200 million, where's the money?
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The numbers are clear after the initial rough estimates. Joker: Folie à Deux finished its opening weekend well below expectations, grossing $37.8 million in the U.S. and $77 million in international markets. This is another significant anomaly for the film, as these figures are typically more or less the same. Combined, they total $114.8 million worldwide, well below the estimated $200 million in production costs, not including advertising and marketing expenses.

Where’s the $200 million? From the start, one of the most common criticisms of Joker: Folie à Deux—aside from its musical genre and the tonal shift from the first movie—has been the notable lack of visual luxury expected from a film with a $200 million budget. Blockbusters, such as Marvel’s Avengers: Endgame, typically have budgets of this size. However, that money doesn’t appear anywhere in Joker: Folie à Deux.

A quarter of the budget. This budget increase is even more striking when compared to the first film’s cost of $55 million. In other words, the original movie was incredibly cheap to produce, which makes sense since it lacked elaborate action sequences, chases, and the traditional complex stunts of a regular superhero film. What’s unique in this case is that the sequel is similarly understated.

One explosion. That’s all the action you’ll see in Joker: Folie à Deux, which was planned and shot in a particularly way that doesn’t take that much money—perhaps to avoid highlighting an element that doesn’t characterize this Warner Bros. production. With the action out of the way, one might wonder how costly the musical numbers are. They’re expensive to plan, no doubt, featuring some spectacular scenery but lacking realistic pretensions, which also helps lower the cost. To be clear, there are sets with the sophistication of a high-budget Broadway musical, but nothing like a number in Times Square, with hundreds of dancers and extras bringing the real street to a standstill. There may be more expensive musical numbers in Wicked, for example.

The big salaries. Some rumors suggest that star salaries contributed to the budget increase. While some of this is true, it doesn’t justify the $200 million price tag. There’s no doubt that director Todd Phillips got a pay bump. Joaquin Phoenix reportedly went from $4.5 million to $20 million, while Lady Gaga is said to have taken home $12 million. These figures are high but within the usual range for stars in this category.

It’s a significant genre shift. There’s also a possibility, as noted by the Hollywood Reporter, that Phillips transitioned from the comedy genre. For the first Joker, he was given a budget appropriate for that genre—perhaps even a generous budget, possibly due to the presence of an unconventional star. For the sequel, the budget aligns more closely with what Joker has always been: a film that nominally belongs to the DC superhero universe, even if it later takes steps to defy that categorization. Phillips doesn’t have to worry about fans viewing the sequel as a typical DC movie, and DC Films CEO James Gunn may not be interested in that association either.

Image | Warner Bros.

Related | I Watched Joker: Folie à Deux. I Now Know Why the Heck It’s a Musical

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