Marvel Studios’ Thunderbolts was initially positioned as a pivotal entry in the Marvel Cinematic Universe’s Phase Five — a darker, ensemble-driven story featuring a lineup of anti-heroes led by Florence Pugh’s Yelena Belova.
Bolstered by a high-profile cast and a narrative that promised to explore the morally grey areas of the MCU, the film was expected to be both a commercial and creative turning point. However, the reality at the box office has turned out to be less than ideal.
As of May 26, Thunderbolts has earned $174M domestically and $181M internationally, for a worldwide total of $355M. While these numbers might seem respectable at a glance, multiple reports hinted that the film’s break-even point was in the $500M range — meaning the project is likely heading toward a loss of at least $100M for Disney. With the current trajectory, Thunderbolts may not even cross the $400M global mark.
This disappointing performance adds to a troubling pattern for Phase Five, which has seen multiple titles fall short of expectations. “Captain America: Brave New World,” another tentpole release, ended its run with $415M globally — a figure that, while underwhelming by Marvel’s standards, now looks stronger in comparison to “Thunderbolts.”
To be clear, Thunderbolts hasn’t sunk to the depths of “The Marvels,” which remains the MCU’s lowest-grossing film at just $205M worldwide. But it’s still the second-worst performer in franchise history, trailing even the much-criticized “Eternals,” which managed to surpass the $400 million mark globally.
These numbers are beginning to signal more than just isolated stumbles. Once a near-guarantee of box office success, the MCU appears to be grappling with franchise fatigue, waning audience enthusiasm, and perhaps a need to recalibrate its storytelling approach.
The underperformance of Thunderbolts may be a symptom of a larger shift — one that Marvel Studios will need to confront as it plans the next phases of its cinematic universe. Up next, this summer’s “Fantastic Four: The First Steps.”