Huge new Hollywood blockbuster 'set to lose $200 million' after box office catastrophe

It was five years ago when Todd Phillips' , made for no more than $70 million, stormed the box office and garnered over $1 billion globally.

It was inevitable that then record-breaking highest grossing R-rated movie of all time, that won the Best Actor Oscar for Joaquin Phoenix, would have a sequel greenlit by Warner Bros.

Given a whopping $200 million, Phillips went musical with the follow up in a gamble that did not pay off at all.

Largely critically panned, Joker Folie à Deux, which co-stars Lady Gaga as Harley Quinn, has broken some records too but not in a good way.

Joker 2 debuted with a CinemaScore of D, which is the lowest ever for a comic book movie.

Upon its opening weekend, Joker Folie à Deux made just $37.8 million domestically, which is even lower than Sony's poorly recieved Morbius.

Meanwhile, the Batman villain spin-off broke the record for the worst second weekend of any comic book movie, earning just $7 million on a 81 per cent drop off.

As it stands, Joker 2 has made $165 million - a far cry from the box office behemoth that is its predecessor - and now is predicted to lose as much as $200 million.

According to 's sources, Warner Bros claim the blockbuster with 33 per cent on Rotten Tomatoes will break even at $375 million. Meanhwhile, insiders including three rival executives estimate that Joker 2 will lose at least $150-200 million.

Warner Bros responded in a statement: "Any estimates suggested by anonymous 'insiders' or 'rival executives' are grossly wrong and continues a trend where rumor is reported as fact. The film continues to play in theatrical release, included with this week's opening in China, and will continue to earn revenue throughout its home viewing and ancillary run." Time will tell.