With The Right Accountants, Even <i>Harry Potter</i> Can Flop

Think that Harry Potter And The Order of the Phoenix was a hit? Guess again; despite grossing almost a billion dollars, Warner Bros. would like you to believe that the movie still ended up in the red.

Deadline Hollywood has the stunning example of accounting that argues that Order of the Phoenix is still $167 million in debt. More depressing is the attitude from one unnamed Hollywood executive, explaining why Potter's accounting isn't a surprise:

If this is the fair definition of net profits, why do we continue to pretend and go through this charade? Judging by this, no movie is ever, ever going to go to pay off on net participants. It's an illusion to make writers, and lower-level actors and filmmakers feel they have a stake in the game.

This just in: Hollywood sucks. Film at 11.

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