Marvel Studios’ Thunderbolts has been a creative win for the studio, with nearly everyone who’s seen it singing its praises. I myself watched the film twice and enjoyed it even more the second time, as it deeply resonated with me on an emotional level. However, its box office performance suggests that despite all the marketing push and the goodwill surrounding the film, its fate reflects a new and evolving reality for Marvel.
Thunderbolts hasn’t been the Box Office Hit that the Studio had Hoped for
Despite glowing reviews and enthusiastic word of mouth, Thunderbolts only managed a $162 million global debut. And while its second-week hold was solid, the film has lacked the staying power needed to significantly grow its totals.
The late reveal of the film’s actual title—The New Avengers—was presumably intended to generate buzz but failed to have the desired impact. Even the inclusion of the “Avengers” brand couldn’t ignite interest from casual moviegoers. And this points to a deeper issue: the MCU no longer feels like essential viewing, especially on the big screen. After a string of lackluster entries across both film and television, the Marvel brand has lost much of the goodwill it built during the Infinity Saga.
After over a month at the theatres, Thunderbolts currently sits at $186 million domestically and $375 million globally—meaning it will likely end its run around the $380-$385 million mark.
But all things considered, is Thunderbolts a flop like many have been quick to label it after its box office run? While that total may appear soft for a Marvel ensemble film with an “Avengers” reveal, it’s also important to consider the broader industry context. With the cost of living and ticket prices rising and the gap between theatrical and digital shrinking, audiences are far more selective about what they’ll pay to see in theaters. If it’s not an undeniable event film, many just wait for digital releases or for the movies to come out on the streaming service for which they are already paying a significant amount.
Thunderbolts is poised to do very well in the VOD and Streaming space, thanks to glowing reviews and a strong audience reception, which Marvel Studios really needed after Brave New World.
Even films with poor critical and audience reception, such as Joker: Folie à Deux and Kraven the Hunter, made over $140 million and $90 million respectively through their digital and streaming runs, according to Deadline.
Thunderbolts, whose break-even point is $450 million and currently holds a Rotten Tomatoes score of 88% and an IMDb rating of 7.6, is at the very least a surefire lock to surpass the $130 million that The Marvels made on digital and streaming. The film could even end up making more than an estimated $150 million as both the theatrical release of The Fantastic Four: First Steps and Thunderbolts on VOD will likely mutually benefit each other.
Key Takeaways from Thunderbolts’ Box Office Performance
One of the clearest takeaways from Thunderbolts is that Marvel needs to reassess its budgets. With an estimated production cost of $180 million, the film does not look or feel like a must-see $200 million superhero movie.
It’s another reminder that Marvel should scale its spending to fit the project—especially when the film doesn’t feature superheroes that are household names or top-tier movie stars. For comparison, Warner Bros. is having a stellar year so far at the box office with A Minecraft Movie, Final Destination: Bloodlines, and Sinners, costing $150 million, $50 million, and $90 million respectively, making it much easier for them to turn in box office profits with movies of different scales.
Another ongoing concern is Marvel’s growing dependence on Disney+ shows for narrative continuity. While Thunderbolts is watchable as a standalone, many fans believed they needed to be caught up on The Falcon and the Winter Soldier, Hawkeye, and Black Widow—an impression that may have discouraged more casual viewers. During the Infinity Saga, Marvel managed to build its cinematic universe without turning each installment into homework. That kind of accessibility definitely seems to have escaped moviegoers when it comes to Marvel films, and such is the perception, at the very least.
A Bright Spot Amid Box Office Frustration
Thunderbolts has been hailed as one of the MCU’s strongest entries post-Endgame. Critics have praised its ensemble cast—Florence Pugh, Sebastian Stan, Wyatt Russell, and others—for their grounded performances, and audiences have been in awe of the film for its relatable character work and more intimate, emotionally resonant tone.
It has certainly restored some faith in the MCU during a period of uncertainty, and while Marvel still has work to do in rebuilding audience trust, Thunderbolts is a step in the right direction. The film’s reception may encourage Marvel to continue investing in grounded, character-driven stories. It might also serve as a blueprint for how to make smaller-scale Marvel projects work.
With Fantastic Four and Avengers: Doomsday on the horizon, the goodwill Thunderbolts has built could pay dividends. It may not be a box office hit, but it’s not a flop either—and in the current landscape, that’s a victory Bob Iger and Marvel should embrace.