Jul 22, 2016 11:03 PM EDT

'Warcraft' Movie Sequel Canceled After Original Film's Box Office Flop?

The "Warcraft" movie sequel may be canceled after the original film was not able to generate the expected profits. However, there is still hope that a part two would be developed.

According to The Hollywood Reporter, the "Warcraft" movie was able to avoid "utter failure." 89 percent of its $430.1 million global gross was not from the domestic box office but from the international market. Moreover, more than half of the revenue (about $220.8 million) came from China, which has a massive "World of Warcraft" fan base.

"'Warcraft' is a strange box-office beast and unlike anything the industry has seen," analyst Jeff Bock said. "If China didn't end up grossing what it did, this would have been an utter failure. Now it's only a mild concussion. In fact, sequels have been OK'd with less - just look at Legendary's 'Pacific Rim.'"

The original film lost about $15 million. If there were to be a "Warcraft" movie sequel, there are speculations that Legendary may focus on the Chinese market, where profit would be a sure shot.

"If Legendary does produce a sequel or trilogy, with only Asian markets in mind, could this be the beginning of a new era of blockbusters and big-budget sequels that can actually bypass North American audiences and still rally for a profit?" Bock added. "This is the Chinese multiplier at work, as the People's Republic is surely on its way to being the No. 1 box-office market in the world."

Forbes noted that the "Warcraft" movie only made $46.61 million in North America with a $24.1 million debut weekend. This is just 1.93x higher than its budget.

It was previously reported that the "Warcraft" movie box office sales fell by 73 percent on its second weekend in the U.S. It only brought about $6.5 million. Nonetheless, it is still deemed as "the biggest video game movie ever."

The "Warcraft" movie's box office sales may determine the future of the franchise. Universal Pictures and Legendary Entertainment are said to be hoping that the film's performance would result to an epic fantasy franchise in the future.

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