This is doomed to fail unless it does INCREDIBLE box office...
James Cameron says that "Avatar: The Way of Water" will need to become the fourth or fifth highest-grossing movie in history in order to break even.
variety.com
They'll blame Chapek if it fails and praise Iger if it succeeds...
We were just talking about it above. Am I expecting it to necessarily make $2B? No. Am I going to call it a failure if it makes $1.8B and ends up with a $200M loss? No.
No you could say, "but it lost money so it has to be a failure". I can't argue with you there technically because you'd have facts on your side. However, If it makes $1.7-1.8B, it would show that the franchise still has plenty of juice left in it and that everyone talking about how it's lack of a cultural footprint didn't matter.
So if I have a theoretical $1.8B movie, which would be the 7th highest grossing movie of all time, all it tells me is that going forward, yes Avatar 3 is shot and probably has a similar budget issue. But if Avatar 3 performs well in 2024 (again, over $1.5B but still loses money), the answer isn't necessarily to not make Avatar 4 & 5 since people would have been going to see these films in big numbers.
The answer in that scenario is to tell Cameron that he has to make Avatar 4 & 5 on a bit of a smaller budget. That is unless you're fine with losing some money each film in exchange for gaining films that are perceived as extremely valuable blockbusters.
Also on the Chapek/Iger front... if these movies succeed, there's one and only one person who deserves praise and that's James Cameron. Murdoch/Iger/Chapek are ALL on the hook for allowing him to spend so much.