Transformers One ended its theatrical run with just over $130 million WORLDWIDE. Domestically, the film garnered just short of $60 million, with international not being much better. Transformers The Last Knight, the last film directed by Micheal Bay, garnered $130 million on just its domestic run. The last pair of live action films (Bumblebee and Rise of the Beasts) had worldwide hauls more than three times what TF One had.
For people lamenting why Bay seems primed to return, this is why. His worst performing Transformers movie, TLK, made more than any post-Bay movie.
Thing is... I'd be fine with leaving Bay in the past if they'd continued with the direction started with Bumblebee, but no. RotB went back to the Bay formula, just without Bay. If they're going to do Diet Bay... they might as well get the genuine article.
Now ok this is live action. What's that got to do with TFO? Well... first let me say that I loved TFO. It was a great movie with a lot of heart and love for the franchise. Objectively it's one of the top three movies in the franchise as far as being a quality movie goes (it jostles with '07 and '86 for me).
And my own experiences watching it with my husband who has very little knowledge about Transformers outside of knowing who Optimus and "the tape guy" are, tell me that if general audiences had given it a chance it could have worked. They didn't though... and I may have to smash some sacred cows because I've sort of changed my opinion on why they didn't.
"It was the marketing."
"It was the release date."
Both are true. The first trailer, which seemed to be most of what the movie got in terms of marketing, was pretty cringe. And the release date did leave a lot to be desired.
Thing is... I've seen movies succeed despite both. And TFO had the sauce to succeed so why didn't it?
It wasn't the bad trailer. It wasn't the release date. Both would have been overcome if there www interest, and there just wasn't any. Why? Because the general audiences aren't interested in this franchise the same way they are for, say, Star Wars. There's not a baseline casual interest in Transformers or its lore or story among causal movie goers.
The Bay movies succeeded because Bay turned it into a vehicle (ha) for high octane disaster movie/action popcorn blockbusters. There was ENOUGH of a "oh yeah I remember Optimus" hook for causal moviegoers to give it a chance and the action was epic to keep interest there.
Do people care the same way they care about other franchises, though? No. Not really.
Compounding things is that animation in the west is still viewed as a "kiddie" medium. Call it unfair but it is what it is.
So you have a Transformers movie without humans (ie audience viewpoint characters), without Baytastic action, and heavy on lore most general audience types don't care about, in a medium that's seen as not as "serious" as live action? Well... are the results at the box office really that shocking?
TFO was a movie that filled most TF fans' wishlists- no humans, set on Cybertron, deep lore and character work. And maybe it proves what's been evident in the Star Wars and comic book fandoms for years- that maybe fans shouldn't be listened to?