Netflix isn’t afraid to throw money at big-budget spectacles, but did it just burn a massive hole in its pocket with ‘The Electric State‘? Released on Friday, ‘The Electric State‘ transports audiences to a retro-futuristic version of the 1990s. The story follows Michelle, played by, Millie Bobby Brown, an orphaned teen on a mission to find her long-lost brother, Christopher, after a robot rebellion turns the world upside down. Along for the ride are a smuggler named Keats, played by Chris Pratt and his robot sidekick, Herman, voiced by Anthony Mackie.
A Retro-Futuristic Sci-Fi That Looked Good on Paper
Netflix reportedly spent a staggering $300 million to $320 million on its latest sci-fi flick, but early reviews suggest it may not have been money well spent. With Brown and Pratt headlining the movie and the Russo brothers, Joe and Anthony Russo, directing, the film seemed to have all the ingredients of a major hit. The sibling duo, known for their work on ‘Arrested Development‘ and ‘Community’, made their mark in Hollywood by directing some of Marvel’s biggest blockbusters, including ‘Avengers: Infinity War‘ and ‘Avengers: Endgame‘. However, their track record outside the MCU has been less impressive.
Related: Russo Brothers Confirm Back-to-Back Filming For ‘Avengers: Doomsday’ And ‘Avengers: Secret Wars’
A $320 Million Price Tag And Little To Show For It
Originally, the movie was estimated to have a $200 million budget if it were made at a conventional studio, the movie’s expenses soared under Netflix’s ownership. It is one of the most costly films ever produced, with a final budget of a staggering $320 million, according to Deadline and Total Film.
In contrast, the budgets of the past 10 Best Picture Oscar winners combined just under $230 million less than the cost of this one movie. ‘ Captain America: The Winter Soldier‘ costed $170 million and earned $714 million worldwide, so even the Russo brothers, who are used to large budgets, find ‘The Electric State‘ to be an unprecedented financial gamble.
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Although the sibling duo have delivered box office success with Marvel, they have had difficulty reproducing that success in their non-MCU projects. Despite having a $200 million budget, their 2022 action thriller ‘The Gray Man,’ starring Ryan Gosling and Chris Evans, was met with a lackluster review with a 45% critic score on Rotten Tomatoes. Similarly, despite an early renewal and many spin-offs, their spy series ‘Citadel,’ which reputedly costed $300 million, hasn’t created much interest.
Will Netflix Ever Learn?
When it comes to defining success, Netflix has long been a wild card. Does a movie qualify as a hit if it tops the streaming charts for a week? Or does it have to have a lasting cultural influence and audience? The ‘Electric State‘ may be popular for a few days, but will it last as long as real science fiction classics?
Joe Russo himself acknowledged the risks involved in spending so much on streaming-exclusive films. In an interview with THR, he admitted, “Logically, it probably doesn’t make a ton of sense” for streamers to pour hundreds of millions into projects like this. However, he also pointed out that ambition still plays a role in decision-making.
“The Electric State is certainly a big test case for this whole thing,” Anthony Russo added. “We’ll see how this plays, we’ll see what this does for Netflix, and we’ll see where it all goes.“
