The box office has become more volatile than ever in recent years, and even the once-seemingly untouchable Marvel Studios has seen several films suffer poor financial returns. That said, there are numerous reasons a film can flop at the box office, and it's not always a reflection of its quality, which is certainly the case with many of the MCU's recent box-office blunders.
It was bound to happen given the sheer volume of superhero movies these days. When Marvel Studios began adapting its characters into films, it had a fairly open field, but nowadays, competition from the DCU and Sony's Spider-Man Universe has created an oversaturated market. Phase 5 was easily the MCU's toughest stint at the box office, with a string of films that underperformed for various reasons.
After an array of hit-and-miss releases, Marvel Studios does seem to want to course-correct at the box office in 2026. But looking back, some of Marvel's flops shouldn't be judged too harshly, as their poor returns weren't always a true reflection of their quality.
Underperforming MCU Movies That Deserved Better
Thunderbolts*
Thunderbolts* isn't Marvel Studios' worst flop, gaining $380 million worldwide by the end of its run. But for a studio used to releasing films in the $500,000+ million range, it was definitely an underperformer.
There are several reasons that may have led to Thunderbolts* disappointing returns. For one, 2025 was a three-movie year for the MCU. Captain America: Brave New World had been released mere months before (and also flopped), and The Fantastic Four: First Steps was not long after in July. Audiences had a number of Marvel films to pick from in 2025, and Thunderbolts* may have gotten the short end of the stick by being the least known of the bunch.
Adding to that is the fact that audiences are simply not as familiar with the Thunderbolts team and its characters (an amalgamation of side characters and villains from other Marvel movies and shows) as they are with the big-name heroes. A big name goes for selling a superhero film, which Marvel Studios has demonstrated time and again, but in the case of Thunderbolts* audiences didn't seem to know how to take the group.
It's a shame, because Thunderbolts* was well received by audiences who saw it, well reviewed by critics, and is considered a genuinely good Marvel movie. It wasn't afraid to touch on tougher subject matter and contained some important setups for the upcoming Avengers: Doomsday. Maybe if Thunderbolts* had led with its secret last-minute title, the box-office story would have been different.
Black Widow
Black Widow was no doubt a film that arrived much too late, releasing canonically after Natasha Romanoff had sacrificed herself in Avengers: Endgame. Fans had been calling for a solo Black Widow film for years, but when it finally did arrive, it was a box office disappointment that was not from any fault of its own.
Despite a confusing timeline shift, Scarlett Johansson's hero was one of the original Avengers, and her film should have been as popular as those of her male team members. Unfortunately, it was a matter of timing that led to the movie's box-office failure.
Black Widow was the first MCU movie released since the COVID-19 pandemic. After being rescheduled several times, Marvel Studios decided to bite the bullet and release Black Widow in a new hybrid format, leading to a pay-per-view release on Disney+ and in theatres. This did not work in the film's favor, at least at the box office, as many cinemas were still closed at the time and many audience members remained cautious about going out during the pandemic. Black Widow did well on Disney+, but that didn't translate into strong box office returns; it ended up around $379 million.
It was undoubtedly a shame to finally see Johansson's character get her solo movie, only for it to be held back by factors outside of its control.
Shang-Chi and the Legend of the Ten Rings
In a similar spot to Black Widow, Shang-Chi and the Legend of the Ten Rings was a great Marvel film that suffered from external factors.
The Phase 4 film was the first to introduce a brand new hero in the Multiverse Saga, enlisting Simu Liu as Shang-Chi in an action-packed, fantastical martial arts movie. Shang-Chi was well reviewed and introduced audiences to a critical new Avenger, who will play a role in this year's Avengers: Doomsday.
Unfortunately, Shang-Chi and the Legend of the Ten Rings was also released amid the pandemic, when cinemagoers were still being cautious, and several cinemas were still closed (including in Sydney, Australia, where it was filmed). It adhered to Disney's 45-day window strategy, which led to it being available as PPV on Disney+ after this, which may also have caused a decline in its box office.
That said, Shang-Chi still managed to earn $430 million worldwide and broke pandemic-era box-office records, which is still a great feat for the film.
The Marvels
The Marvels has unfortunately gained a reputation as one of the biggest Marvel failures in history.
The film's $206 million worldwide gross is the studio's lowest to date. It's somewhat ironic, given that Captain Marvel is in the top 10 highest earners for Marvel Studios, but there was a lot working against The Marvels that proves these numbers were undeserved.
The Marvels served as something of a sequel to three different MCU properties: Captain Marvel, Ms. Marvel, and WandaVision. As a result, the film came with a lot of MCU homework, something Kevin Feige has even admitted may have led to its failure. And, like Thunderbolts, The Marvels doesn't have immediate name recognition, with the studio opting to switch to a team name rather than designating it as Captain Marvel 2.
Another uncontrollable factor was the Hollywood Actors' strike, which took place in 2023 during the period when The Marvels was due to do its press tour. Rather than delay the film, Marvel forged ahead with its release, but the inability of big-name actors like Brie Larson and Samuel L. Jackson to promote it proved pretty detrimental.
On top of all this, The Marvels was a target of "woke" complaints, with it being the first MCU film with three female leads, two of them women of color. While the majority embraces the MCU's diversification, a corner of the internet still loudly criticizes it.
It's true that The Marvels took some big swings, opting for a lighter, more comedic tone that leaned into the characters' fun sides rather than the more self-serious MCU fare. The Multiverse Saga, in general, has seen the MCU embrace a wider range of tones and styles than ever before. It was unfortunate that The Marvels bore the brunt of this experimentation at the box office, even though it's still generally considered well-liked by audiences.
