'The Kid Who Would Be King' could lose Fox $50 million, and is the first major box-office flop of 2019

Fox

• "The Kid Who Would Be King" is the first major flop of 2019, and is expected to lose Fox $50 million after a disastrous opening weekend.
• It's the latest King Arthur movie to bomb at the box office, yet Hollywood insists on making them.

"The Kid Who Would Be King" isn't the king of the box office.

Director Joe Cornish's ("Attack the Block") new movie about a kid who has to save the world after discovering King Arthur's sword, Excalibur, bombed in its first weekend of release. It opened to only $7 million in the US on 3,521 screens, making it the biggest bomb of the year so far from a major studio.

READ MORE: Hollywood is obsessed with making Robin Hood and King Arthur movies, despite a run of box-office and critical disasters

The movie is expected to lose the studio Fox an estimated $50 million after considering production and marketing costs, according to Variety. The movie was made for a production budget of $60 million, and has grossed only $10 million worldwide.

It's also just one more example of Hollywood insisting on making King Arthur and medieval movies, despite audiences not caring.

Last year's latest "Robin Hood" movie was one of the biggest bombs of 2018. It made just $83 million worldwide and had a production budget of $100 million. 2017's "King Arthur: Legend of the Sword" also failed to make back its $175 million production budget, only earning $148 million worldwide.

The other notable bomb of 2019 has been Keanu Reeves' "Replicas," which earned $2.5 million in its opening weekend earlier this month on 2,300 screens. It was Reeves' worst opening of all time for a movie on over 2,000 screens.