The films contributing to the losses include “Lightyear,” “Thor: Love and Thunder,” “Strange World,” “Black Panther: Wakanda Forever,” “Ant-Man and the Wasp: Quantumania,” “The Little Mermaid,” and “Elemental.”

The eight films cost roughly $2.75 billion to produce but only brought in $1.86 billion.

Okay, but what about marketing costs? You have to take that into account as well — it must be way more than $890 million in losses.