400 million dollars isn’t enough: James Gunn’s Superman is disappointing

Luca Fontana

26.7.2025

Translation: Elicia Payne

Superman has grossed over 400 million dollars – and still: it’s a flop. At least when you think about what this movie was supposed to do. Read on for a peek behind the glossy box office headlines.

James Gunn’s Superman is a success. At least if you believe the headlines. «Superman flexes impressive staying power, flies past 400 million dollars globally!» cheers the Hollywood Reporter. «Superman continues to rule the worldwide box office», writes Variety. Sounds impressive, doesn’t it? Almost as if there was no doubt at all: mission accomplished, DC is back.

Right?

Not quite. In fact, what’s behind these figures is a truth barely commented on in many reports: Superman is performing below expectations. Considerably. And this despite the fact that the film not only features the world’s most famous superhero, but was also intended to mark the start of a completely new DC universe.

How could this be? Why does the reporting sound so euphoric when the movie itself narrowly avoids failure?

What is a box office hit?

A box office hit isn’t simply a movie that’s made a lot of money. The decisive factor is how much it cost – and how much of the profits go to the studio.

The most common rule of thumb is that a movie must earn about two and a half times its production costs to break even. Not just the same amount – but significantly more. Why, you ask? Because production costs aren’t the only costs. Here are the rest:

• Marketing and PR costs, which can quickly swallow up another 100 to 150 million, depending on the blockbuster.
• The cinema operator’s cut – because only a portion of every ticket sold goes back to the studio.
• And, depending on the region or rentals, different deductions for distributors, taxes and fees.

So let’s take Superman: according to most sources, the production costs were a little over 200 million dollars. The Hollywood Reporter even speaks of over 350 million, but this was denied by director James Gunn. So let’s say it was in the lower region of 200 million. This means that the film would have to make around 500 million dollars to break even. At least. If not more. And only when it’s surpassed this is it profitable.

Currently it’s made just over 430 million worldwide – i.e. in two and a half weeks. Sounds good, but it’s not. Because as of today, that means Superman cost more than it’s brought in. Sure, the movie’s still screening. But the golden weeks are over. Now, the race against time and competition begins.

Why the IMAX time slot is so crucial

One reason for this is IMAX. For some time, this has been more than just a cinema. It boosts sales. Massively. Because in the age of streaming and flat rates, many people think twice about whether a trip to the movies is even worth it.

After all, an evening at the movies can easily cost 40 to 50 francs per person – depending on the ticket, popcorn and drink. And at home? For a fraction of the price, you can get entire series in 4K, often produced in almost the same high quality and, thanks to HDR, often crisper on modern TVs than on the sometimes outdated projectors in some movie theatres.

So anyone who decides to go to the movies today often does so with a clear attitude: «If we’re going, then we might as well go all out.» It should be a worthwhile experience. It should feel like an event. And that’s where IMAX comes into it.

IMAX isn’t just a large auditorium. It’s a promise that this movie deserves the big screen – with powerful sound, gigantic images and armchairs that vibrate when the hero touches down. People are even prepared to pay significantly more for this than in a normal movie theatre – because they can only experience it at an IMAX.

Following the motto of «today I’m treating myself».

For studios, this means that anyone who gets an IMAX time slot in the first few weeks has the chance to generate particularly high revenues in a short space of time. But this window’s small and highly competitive. IMAX generally only shows one movie at a time – and usually switches to the next blockbuster every two weeks.

Whoever gets a spot must deliver. Immediately.

Superman was also shown in IMAX at the start – but only briefly. In the meantime, the Fantastic Four have taken over the big screen and pushed Superman out of the big theatres. In concrete terms, this means that Superman is losing one of its most lucrative playout channels at the very time when many films could be making strong gains thanks to word-of-mouth advertising. Not because the movie would be unsuccessful now, but because the IMAX window has simply closed. Expired.

Occupied by the next blockbuster.

The other problem: weak international performance

When studios talk about «worldwide box office», it often sounds like one big number – a kind of global box office barometer. In reality, however, this figure’s made up of two parts: the US market (also known as domestic) and all other countries (international).

This is where it gets interesting. After all, international business is crucial for almost every blockbuster. Most major Hollywood films generate around 60 per cent of their revenues outside the USA – and only 40 per cent in their home market. Quite simply because the rest of the world’s bigger than North America.

The best example of this is Jurassic World: Rebirth. Despite supposed franchise fatigue, the film’s already grossed over 660 million dollars worldwide. Almost 60 per cent of this came from abroad. And Superman? It’s the total opposite. As of now, the film’s grossed around 430 million dollars worldwide:

• 260 million dollars in the USA
• 170 million dollars internationally

Even here the ratio is 60 to 40 – just the wrong way round. Superman works in the USA, but internationally it falls well short of expectations. And it’s exactly the opposite for Jurassic World: Rebirth, where the lion’s share comes from abroad. Something’s seriously failed there. Because it’s precisely the international markets – Europe, Latin America, Asia – that decide whether a film remains a solid success or becomes a global hit.

It’s hard to say why Superman isn’t as successful there. Perhaps because the film didn’t resonate as much outside the USA. Perhaps because the character itself – as iconic as it is in American culture – has never had the same international status as Batman or Spider-Man, for example. Or perhaps because the movie simply isn’t good enough. In many international reviews, including mine, the response is much more sober than the American hype around it.

Whatever the reason may be, the consequences are obvious: if it doesn’t perform well internationally, Superman won’t exactly be one of those success stories. And DC would need this quick in order to justify rebooting an entire franchise.

Not a complete flop – but still a flop

Will Superman be a loss for the Warner Bros business? Probably not. The movie’s still in theatres. A few dozen million will certainly be added to the global box office takings, and the 500 or even 600 million mark is likely to be cracked. With a little goodwill, you could say: at least it’s not a minus.

But when a movie with the title «Superman» ends up just barely breaking even, that’s no reason to celebrate. Because this wasn’t just about any old movie. It was about the starting point for a new DC universe. For the reboot of an entire franchise that was supposed to do everything better than the chaotic years before.

James Gunn himself isn’t fazed. In an interview with GQ, he rejected the expectation that his film would have to gross 700 million dollars for it to not be a loss-making business: «It’s complete and utter nonsense,» he said. «It doesn’t need to be as big of a situation as people are saying.»

He sounds confident. Or perhaps it’s damage control. Because honestly: a Superman movie that isn’t planned to be a big hit? That doesn’t fit in at all with Gunn’s otherwise self-confident rhetoric.

Only recently, he’d publicly mocked the Marvel universe, saying that he’d written the entire mythology surrounding the Infinity Stones in «two seconds» – a clear dig at the MCU, which has recently struggled to build on previous successes.

This is exactly what Superman should have exploited. Sent a signal. Set the tone. Instead, the film’s barely breaking even, while other, supposedly smaller and «woke» films are grossing significantly more without even coming close to making similar headlines.

Over one billion dollars, to be exact.

Yes, there will be spin-offs. Series about the Green Lantern, Supergirl or Jimmy Olsen are already being considered. But the prelude hasn’t exactly been convincing. And you’re left with the impression that if Superman isn’t good enough, then it’ll be extremely difficult to take the new DC universe to great heights.

Luca Fontana

Senior Editor

Luca.Fontana@digitecgalaxus.ch

I'm an outdoorsy guy and enjoy sports that push me to the limit – now that’s what I call comfort zone! But I'm also about curling up in an armchair with books about ugly intrigue and sinister kingkillers. Being an avid cinema-goer, I’ve been known to rave about film scores for hours on end. I’ve always wanted to say: «I am Groot.» more

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