Investors and movie industry buffs might want to reconsider listening to “reported budgets” coming out of the trades in regards to Disney films. A new article from Caroline Reid at Forbes has shattered the narrative on what Disney is spending behind-the-scenes.
When “Star Wars: The Rise of Skywalker” premiered in December 2019, media coverage painted it as an expensive yet profitable conclusion to Disney’s sequel trilogy. At the time, Deadline’s Anthony D’Alessandro reported the production budget at approximately $275 million, making it the costliest entry of the trilogy. Combined with global marketing, advertising, and distribution, the film’s total expenses reportedly reached about $627 million. This was seen as extravagant but justified given the massive scale and anticipated box office returns. Indeed, early financial assessments suggested the film netted approximately $300 million in profit, trailing predecessors “The Force Awakens” and “The Last Jedi,” yet comfortably surpassing the spinoff “Solo,” which had notoriously lost money.
Daisy Ridley as Rey in Star Wars: The Rise of Skywalker (2019), Lucasfilm
However, recent revelations paint a strikingly different picture. Caroline Reid of Forbes has just disclosed a drastically higher actual production budget of $582.3 million (£442.2 million), more than double the original estimates. Reid’s findings emerged from a combination of Disney’s 2020 financial disclosures and industry interviews, shedding new light on the costly reality behind the saga’s finale. Reid’s reporting pointed out unusual production circumstances contributing to these soaring costs, notably an abbreviated editing schedule. Editor Maryann Brandon, speaking candidly on The Rough Cut podcast, revealed the team had three months fewer than they did on “The Force Awakens,” due to Disney’s strict adherence to the December 2019 release date. Rather than delaying the film—which would have further increased expenses—the shortened timeline inadvertently inflated production complexity and associated costs.
Interestingly, despite the dramatic increase in overall production expenses, director J.J. Abrams noted that “The Rise of Skywalker” actually required fewer reshoots than “The Force Awakens.” Abrams explained that during the first installment of the trilogy, filmmakers had to extensively test new characters and concepts, necessitating additional filming. By the final installment, the creative team had clarity on what elements resonated with audiences, theoretically streamlining reshoot expenses. However, even fewer reshoots couldn’t counterbalance the ballooning production costs tied to accelerated post-production schedules, visual effects work, and logistical pressures.
Disney, somehow, is claimed to believe the movie was “under budget“.
Article from Caroline Reid at Forbes reveals insane spending on Star Wars projects.
The amount in which “reported budgets” out of Disney films (wherever they might come from and be reported) are so far out of reality that it boggles the mind. It makes one question how and why this is happening.
It is critical to emphasize that the $582.3 million figure exclusively represents the production budget, omitting substantial marketing, print, and advertising expenses, which typically add at least $200 million to blockbuster films. Accounting for these costs, total expenditures for “The Rise of Skywalker” likely approached an astronomical $800 million, significantly above the original $627 million estimate reported in 2019. This also indicates that “The Rise of Skywalker” would have needed something like $1.5 billion to break even at the box office. It fell significantly short with $1,069,951,814 at the worldwide box office.
The stark difference between initial and actual budgets underscores Hollywood’s complex relationship with blockbuster accounting. Studios often underplay expenditures publicly, either through strategic financial management or the opaque nature of film budgeting. The revelation regarding “The Rise of Skywalker” demonstrates the potential discrepancies lurking behind widely reported figures, urging industry observers and fans alike to reconsider how blockbuster success—and cost—is measured. Imagine if movies like Captain America Brave New World have similar differences in reported budgets and actual costs. Readers should approach “reported budgets” with extreme scrutiny going forward.
