China's most expensive movie becomes epic flop

With a USD 113-million budget, the most expensive Chinese film ever made has become a flop of historic proportions, pulled from theatres on its opening weekend after bringing in a paltry USD 7.3 million.

Alibaba Pictures' special effects-heavy fantasy film "Asura" was intended as the first instalment in an epic trilogy inspired by Tibetan Buddhist mythology, part of a drive by authorities to promote works bearing elements of traditional Chinese culture.

The film cost 750 million yuan (USD 113.5 million) to make, state media said, and opened on Friday, but Chinese ticketing platform Maoyan said it only took in just over USD 7.3 million at the weekend.

By Sunday, the film's official social media account posted a statement declaring that it would be removed from theatres as of 10 pm that night. "We express our apologies to all those who wanted to but won't have the chance to see it," it said.

Most of China's biggest blockbusters to date have been made with half the budget lavished on "Asura".

The estimated loss of USD 106 million would make it the fifth-biggest flop in movie history worldwide, behind frontrunner "Sinbad: Legend of the Seven Seas" which suffered losses of USD 125 million, according to data from website Box Office Mojo.

State media had touted the movie before it was released, with the China Daily hailing "Asura" as "the most hotly anticipated blockbuster of China's competitive summer season."