“Does Somebody Need A Hug?” To Feel Better About Fate Of 'Elf' Sequel

Will Ferrell doesn’t believe in making an “Elf” sequel.

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Ferrell couldn’t conscionably market a movie to fans that he knew wasn’t good.

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Though a $29 million role reprisal in a second “Elf” movie was an option, Ferrell turned it down.

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James Caan revealed that the thwarted follow-up film was because of between Ferrell and Jon Favreau.

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Caan hoped that “Elf” would turn into a multi-movie franchise.

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Caan recalled that Favreau and Ferrell didn’t get along - Ferrell didn’t want Favreau directing the film.

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In 2003, “Elf” earned $223.3 million at the box office with a $33 million budget.

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The studio still earns money from TV re-runs of the movie, as well as streaming deals.

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Though it’s unsure how profitable the second film could have been, there was potential for success.

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