Netflix has reportedly spent hundreds of millions on its latest blockbuster, The Electric State, but early signs suggest the investment may not pay off.
The Electric State, which hit cinemas on Friday, is a retro-futuristic sci-fi film set in the 1990s. Millie Bobby Brown stars as Michelle, a teenage orphan who embarks on a journey to find her long-lost brother Christopher following a devastating robot rebellion. She is accompanied by Keats (Chris Pratt), a smuggler, and his robotic sidekick Herman, voiced by Anthony Mackie.
The film is directed by Joe and Anthony Russo, the sibling duo who first made their mark on television with Arrested Development and Community before turning their attention to the Marvel Cinematic Universe.
With two A-list stars leading the cast, a high-profile directing team, and a roster of celebrity cameos, The Electric State appeared to have all the makings of a major success—at least on paper.
However, upon release, the film was met with a wave of negative reviews. As of now, it holds a mere 17% critic rating on Rotten Tomatoes, based on 69 reviews, indicating that Netflix’s latest big-budget gamble may have misfired.
According to a Puck News report from May 2024, a traditional Hollywood studio would likely have spent under $200 million (approximately £155 million) on the film. However, Netflix’s deep pockets allowed for a budget closer to $300 million (around £235 million).
More recent reports from Deadline and Total Film suggest the costs spiralled even higher, with final expenses reaching $320 million (roughly £250 million). If accurate, this would place The Electric State among the most expensive films ever made.
For comparison, the combined budgets of the last ten winners of the Academy Award for Best Picture amounted to less than $230 million (approximately £180 million)—still significantly lower than the staggering cost of The Electric State.
Despite the hefty price tag and star-studded cast, early indications suggest that Netflix’s most ambitious project yet may struggle to justify its record-breaking expenditure.
