I don't think it's impossible to make a shared universe out of the universal monsters... but I think such a project is so much more likely to fail that the attempt shouldn't have been worth the risk. And Universal has tentpole franchises, specifically the Fast and the Furious and Jurassic Park, so they aren't as desperate as WB which is still scrambling to find a tentpole franchise.
Then again Disney is pulling in so much between Star Wars and Marvel, maybe everyone is willing to throw away tens of millions in an attempt to score that next big franchise. They probably should have downplayed the whole "hoping to turn it into a franchise" angle and just tried to make a "The Mummy" movie and then if it is successful THEN attach a franchise to it. If it was good people will WANT more. I'm positive Lionsgate did that with Power Rangers. If it went crazy at the box office we'd all be hearing about sequels and a "Power Ranger cinematic universe." Instead it bombed and they just dropped it without much fanfare and are looking elsewhere. That just seems to be the better way to handle it.
Then again Disney is pulling in so much between Star Wars and Marvel, maybe everyone is willing to throw away tens of millions in an attempt to score that next big franchise. They probably should have downplayed the whole "hoping to turn it into a franchise" angle and just tried to make a "The Mummy" movie and then if it is successful THEN attach a franchise to it. If it was good people will WANT more. I'm positive Lionsgate did that with Power Rangers. If it went crazy at the box office we'd all be hearing about sequels and a "Power Ranger cinematic universe." Instead it bombed and they just dropped it without much fanfare and are looking elsewhere. That just seems to be the better way to handle it.