That doesn't include the roughly $100M spent on
John Carter marketing.
John Carter's world-wide box office reportedly was $284M.
Disney ended up writing off about $200M.
Conversely, phase 1 of WWOHP, Rip Ride Rockit, and the Simpsons Ride cost $385M. Quoting from Universal's 10K:
"As of December 31, 2010, our total capital investment in The Wizarding World of Harry Potter™ (which opened in the spring of 2010), Hollywood Rip Ride RockitSM (which opened in the summer of 2009), The Simpsons Ride™ (which opened in the spring of 2008), and certain system enhancements primarily including the reengineering of our website and online ticket store was approximately $385.0 million."
Uni's park revenue was up $400M in 2010 (recall that WWOHP opened mid-year) and another $389M in 2011.
By all accounts, WWOHP was a huge financial success.
What else were financial successes?
DLR's Cars Land and WDW's New Fantasyland.
Disney's theme park revenue was up $562M in 2012 and another $723M in 2013.
As Disney has proven time and again, a smart theme park addition reaps financial rewards for
decades. Heck, I still go to DHS if only to ride Tower of Terror, opened in 1994.
Last year, Disney's Parks & Resorts generated over $14B in revenue while Studio Entertainment generated only $6B. Yet, disproportionately, Disney CEO Bob Iger focuses on Studio Entertainment.
In part, it's because films are sexy. Would you rather hang out with Johnny Depp at the latest $10,000/plate fundraiser or with the Smith family at a crowded theme park?
However, it's also because these expensive "tent pole" films are indicative of the "quick buck" mentality that dominates Wall Street thinking. Theme park improvements take time to realize their full returns on investment.
As a Wall Street darling, it's not surprising that Iger dumps billions in films while largely ignoring his financially successful yet aging domestic theme parks.