Waste of the Day: California Subsidized “Joker 2” For $20 Million

Topline: Some moviegoers likely wish they could get a refund after seeing “Joker: Folie à Deux” in theaters this month, given the film’s poor review scores.

Joker benefits from California film tax credits

In reality, it’s California taxpayers who deserve their money back. The state gave Warner Bros. Discovery almost $20 million in tax credits to produce the movie in Los Angeles, OpenTheBooks reported. The film is on track to be one of the worst box office flops of all time.

Key facts: California awards $330 million in tax credits each year to help keep movie producers from shooting their films elsewhere.

Warner Bros. received $182 million in credits between 2020 and 2023, including the money for “Joker.” Disney was the only studio with more tax credits in that span: over $218 million.

Warner Bros. Discovery had previously donated $97,000 to Gov. Gavin Newsom’s campaign fund. Newsom accepted an additional $4 million from entertainment companies since 2018.

Supporters of the tax credits say they bring recognition to California for its cinematic innovations, but that’s unlikely to happen with “Joker: Folie à Deux.” The movie cost $200 million to make and earned only $40 million in its opening weekend.

The first “Joker” movie cost $65 million and earned $96 million in its first weekend. It was shot in New York City.

Juliana Kim, a digital news reporter with NPR, writes that the film “is quickly shaping up to be remembered as a flop and arguably one of the biggest disappointments in comic book film history.”

Search all federal, state and local government salaries and vendor spending with the AI search bot, Benjamin, at OpenTheBooks.com.

Film tax credits costs their States money

Background: Film credits are not limited to California. Eighteen states have enacted programs or expanded existing ones since 2018.

New York’s Department of Taxation and Finance found that its state’s film credits — worth $700 million per year — were a “net cost” to the state.

Summary: Previous Batman films have included elaborate bank heists by the Joker, but that’s not necessary when California is handing out the money for free.

The #WasteOfTheDay is brought to you by the forensic auditors at OpenTheBooks.com.

This article was originally published by RealClearInvestigations and made available via RealClearWire.