While On Stranger Tides recouped its astronomical budget, the fourth Pirates of the Caribbean movie took a risk that Pirates of the Caribbean 6 cannot afford to repeat. Like many blockbuster franchises, Pirates of the Caribbean seemed too big to fail. After the sleeper hit success of the original 2003 movie The Curse of the Black Pearl, Disney took a big gamble on two back-to-back sequels that cost a whopping $225 million and $300 million respectively. This risk paid off as the second and third Pirates of the Caribbean movies earned around a billion dollars each (with the second making $1.066 billion while the third earned $966 million).

https://screenrant.com/pirates-caribbean-6-budget-box-office-franchise-mistake/