Paper Tiger

Neon

Opens Nov 13, 2026

Nov 13

Opening day. Numbers start after its first weekend.

Budget
$15.0M
Opening forecast
$150K–$650K
ReelMatrix estimate Limited opening, then expanding through awards season
Domestic total forecast
$6.0M–$15.0M
ReelMatrix estimate
Needs to make (est.)
$27.7M–$34.6M

About the film

New York, 1986: a naive engineer (Adam Driver) goes into business with his ex-cop brother (Miles Teller), until one of them sees something he shouldn't and the Russian mob comes calling. From James Gray, with Scarlett Johansson.

Show the math

Break-even

Production budget
$15.0M
Marketing (estimated for a limited release)
$3.0M–$7.5M
Total cost
$18.0M–$22.5M
Studio's share of each ticket dollar
45¢
Later: home, streaming and TV
+20¢
Break-even worldwide
$27.7M–$34.6M

Total cost ÷ 65¢ per box office dollar. That's 1.8–2.3× the budget. The studio's share blends 50¢ domestic, 40¢ international and 25¢ in China, weighted by this film's mix: 50% from the US and Canada, typical for a specialty distributor.

Projection

Before release, the projection uses the middle of the forecast domestic total ($6.0M–$15.0M).

Domestic finish
~$10.5M
Worldwide finish
~$21.0M

Worldwide finish = domestic finish ÷ 50%, until real international numbers come in.

Verdict: Flop. How verdicts work

Sources

Budget: Director James Gray, quoted by TheWrap, May 25.

Forecasts (ReelMatrix estimate): Limited opening, then expanding through awards season.

Budgets, grosses, break-even points and profits are estimates based on publicly reported numbers. They aren't official studio financials. Verdicts are ReelMatrix's opinion. How the numbers work