Universal Pictures and Blumhouse’s sequel “M3GAN 2.0” opened to an estimated $10.2 million in North America and $7 million from 80 overseas markets, for a $17 million global launch. The PG-13 film carries a reported $25 million production budget, roughly double the cost of the 2023 original. The turnout marks a steep drop from the first “M3GAN,” which startled the industry with a $30 million domestic and $45 million worldwide bow on its way to $180 million in final receipts. The soft start extends a difficult stretch for low-budget horror powerhouse Blumhouse, whose 2025 slate has already seen underperformers such as “Wolf Man,” “The Woman in the Yard” and “Drop.” Blumhouse founder Jason Blum acknowledged the miss in an interview on the podcast “The Town,” saying the company “over-thought how powerful people’s engagement really was” with the doll. Blum cited three miscalculations: shifting the franchise from horror to sci-fi action, moving the release from winter to the crowded summer corridor, and fast-tracking production, which he said left less time for director Gerard Johnstone to refine the film. Blum added that the studio is reviewing its pipeline and may scale back the volume of releases while focusing on projects that feel like “theatrical events.” Upcoming tests of that strategy include October’s “The Black Phone 2” and December’s “Five Nights at Freddy’s 2,” both of which carry higher audience awareness. Despite “M3GAN 2.0” missing expectations, its modest budget is expected to limit financial downside for Universal and Blumhouse.