This film had many things going against it. The 2004 release was a double-edged sword. For those who liked it, it convinced them that Jane was the face of the Punisher and no one else would do. For those who disliked it, it put them off of seeing another film based on this character. All the hype I saw for this film consisted of fans posting online. No one in real life besides two of my friends- one of which is a hardcore Punisher fan- talked about the film, let alone saw it. When I asked people whether they would see it, not only did they say they wouldn't, but they genuinely sounded disinterested in seeing a Punisher film. Had I not seen some commercials or visted Superhero Hype! less than I do, I wouldn't have known that they made this. Then there's the reviews, which have been systematically negative. Critics have either praised it as B-movie schlock, which is hardly a compliment, or tag it as brainless.
All in all, the box office explains itself. I might rent this, but I know the gist of what happens and the footage hasn't impressed me. So that's hardly a promise. I can't see a sequel happening. It's very unlikely that Marvel will allow a direct-to-DVD film. Bad enough that the Punisher has failed to impress a general audience three times in a row, but making a direct-to-DVD film to top it all off? It'd be an admission of defeat. My suggestion: If there are to be any future Punisher films, they should wait a decade, get people with a passion to make a film everyone wants to see, and make a solid theatrical translation for this character. For now, they need to stop beating the dead horse. They've had more enough missed opportunities to get this right while the going's good. Frank needs a rest. Let's move the attention to other characters until then.