Mission: Impossible 7 May Have Been Saved From Box Office Doom By A Massive Payout
It has been a pretty busy summer for movie releases this year. From "Spider-Man: Across the Spider-Verse" popping out just before the sunny season officially began at the start of June to the recent release of "The Conjuring" spin-off, "The Nun 2," there has been no shortage of reasons to head to the nearest multiplex.
However, one movie happened to find itself in an especially busy release window. "Mission: Impossible — Dead Reckoning Part One" emerged just before the massive Barbenheimer face-off that so many cinema-goers had been waiting for and suffered a bit in its box office performance as a result, despite its impressive Rotten Tomatoes score.
Still, there is another factor that impeded the release and success of "Mission: Impossible — Dead Reckoning Part One," and that was the COVID-19 pandemic. For that reason, according to Collider, Federal Insurance Company has settled with Paramount Pictures for $71 million after the studio sued the insurance provider back in August 2021. Now, with this payout subtracted from the film's budget, it looks like the latest Ethan Hunt (Tom Cruise) adventure will be significantly more successful.
Paramount had initially sued the insurer for $100 million
While Paramount initially sued Swiss insurer Chubb and its parent, Federal Insurance Company, for over $100 million, according to The Wrap, it looks like the studio eventually settled for the equivalent of $71 million. Though the film has already scored over $560 million on its reported budget of $291 million, this payout will add a significant contribution to the film's box office.
The math shows that this has given Paramount a profit of $343 million on "Mission: Impossible — Dead Reckoning Part One," minus marketing costs. Of course, with theaters taking a portion of that, the numbers need to be adjusted somewhat, but that's what we've got on paper anyway.
Though the suit was actually settled back in July 2022, the amount that Paramount received had not been made public until very recently. Either way, with "Mission: Impossible — Dead Reckoning Part Two" mostly already shot, it looks like the studio needn't worry as much about which movies the eighth film in the spy franchise goes up against upon its proposed release in 2024.