Practical Magic 2 has crossed $93.6 million worldwide, but it’s still not close to breaking even. The Sandra Bullock–Nicole Kidman reunion opened with a franchise-best $30 million in the US, and has since dipped sharply — down nearly 48% on its third Tuesday. That’s a familiar rhythm for sequels that rely too heavily on nostalgia. The film was made for $75 million, a moderately high budget. It’s recouped that cost, yes, but only just. Industry standards demand a 2.5x multiplier. That means $188 million needed globally. The gap? Around $94 million. Not a stretch for a Marvel movie. But for this one? A long shot. Audience scores are strong. Critics aren’t kind. The cast. New and old, is beloved. Yet the numbers don’t lie: it’s underperforming, even if it’s not failing outright. And it’s not alone. In the same week, Avengers: Endgame Encore hit $86 million globally. The contrast is stark. One film rides a legacy. The other tries to revive one. So far, the math isn’t working. What happens next? The international rollout continues. But unless the overseas legs hold, the sequel may end up a footnote in the franchise’s story. Or worse. A cautionary tale about how much magic can be spent before it runs out.