Fast X will turn a minimal profit despite a respectable box office gross. After releasing on May 19, Fast X sped its way to $704 million at the global box office after opening to $320 million. While this figure does not put Fast X at the top of the franchise (the series’ top earner being 2015’s Furious 7), the global gross situates Fast X as the fourth highest-grossing movie of 2023 thus far.
Despite its successes, Fast X will see a small profit margin, according to a recent report from Variety. It’s said Fast X’s large budget, which is a whopping $340 million, is to blame for its lackluster earnings. The movie will make a modest profit, but it won’t be anything close to the high grosses Universal likely hoped for.
Fast X’s Box Office Fate Is Better Than Some 2023 Blockbusters
Fast X’s profit margin may be disappointing for the franchise and its studio, but it is unfortunately unsurprising when looking at other major 2023 films. This year has been a trying one for the major franchise films, seeing the releases of high-budgeted titles such as Mission: Impossible – Dead Reckoning Part One, Indiana Jones and the Dial of Destiny, and The Flash alongside Fast X. The Mission: Impossible and Indiana Jones sequels have fared poorly at the box office and, as of now, are both expected to lose money.
Thus, Fast X is actually in a better position than a good number of franchise titles this year. On the global box office chart, Fast X trails behind only three movies: The Super Mario Bros. Movie, Barbie (which is showing no signs of slowing down), and the MCU’s Guardians of the Galaxy Vol. 3. While it will turn a profit and is among the top titles of the year, though, Fast X has indicated some wider problems with the Fast & Furious franchise, which is expected to release at least two more movies in the coming years.
Fast X’s performance begs the question of how modern audiences respond to the traditional summer blockbuster. Barbie, whose feminist themes and creative team make it an unconventional box office success, had a comparatively smaller budget at an estimated $145 million. It has already made over $1 billion at the worldwide box office. Fast X’s fate may just be a sign for studios to cut back on backbreaking budgets for its biggest franchises.