The fourth instalment to the Matrix franchise was released in December of 2021 and marked the latest Warner Bros picture to receive a hybrid release, following the likes of Dune and The Suicide Squad.
According to Variety, the lawsuit claims that Warner Bros’ strategy not only led to “abysmal” box office figures but also ‘diluted’ the value of the Matrix franchise.
“WB’s strategy not only ensured that ‘The Matrix Resurrections‘ would be a bust at the box office,” read the filing.
“But it also inflicted serious harm to the entire ‘Matrix‘ franchise. There can be no doubt that the abysmal theatrical box office sales figures from ‘The Matrix Resurrections‘ dilute the value of this tent pole franchise as a film’s lack of profitability generally prevents studios from investing in additional sequels and derivative films in the near term.”
Village Roadshow also contends that it has received no profit from the HBO Max release and that the film’s poor box office performance means it is unable to meet its contractually obligated payment to Warner Bros.
Responding to the suit, Warner Bros accused Village Roadshow of trying to avoid their contractual agreement.
“This is a frivolous attempt by Village Roadshow to avoid their contractual commitment to participate in the arbitration that we commenced against them last week,” said the studio. “We have no doubt that this case will be resolved in our favour.”