Why Fantastic Four: First Steps' Box Office Should Be Raising Alarms For Marvel

Things started off on a promising note for Marvel Studios' "The Fantastic Four: First Steps" at the box office, but, as these things go, it's not just about a single weekend — it's about the weeks that follow. To that end, director Matt Shakman's take on Reed Richards and the gang suffered a much bigger than expected drop in its second weekend despite the fact "First Steps" is one of the best-reviewed entries in the Marvel Cinematic Universe in some time. As a result, Marvel Studios probably needs to start ringing some alarm bells at this point.

"First Steps" earned an estimated $38.6 million in its second weekend domestically, making for a 67% drop compared to its opening. It also added another $39.6 million internationally in its second frame. The "Fantastic Four" reboot debuted to $118 million domestically and $100 million overseas. Pre-weekend projections had Marvel's latest holding far better, but that's not how things shook out. Hence, there is reason for Marvel and Disney to be concerned.

The movie carries a $200 million production budget and currently has earned $367.4 million globally to date. Not to make this a Marvel vs. DC thing but, against similar reviews, James Gunn's "Superman" held far better in its second weekend, crossing the $400 million mark by that point. "Superman" also crossed the $500 million mark on its third weekend and currently stands as the highest-grossing comic book movie of 2025 with $551.2 million worldwide. It will at least get to $600 million, if not closer to $700 million depending on how things shake out.

"Fantastic Four," meanwhile, is going to have to settle for over/under $500 million globally. Coupled with lackluster results for "Captain America: Brave New World" ($415 million worldwide) and "Thunderbolts*" ($382 million worldwide), it's been a rough year for the MCU. Movies like "Deadpool & Wolverine" pulling in $1.3 billion are now very much the exception and no longer the rule for Marvel Studios. That's a reality that the company is going to have to accept. As for what it does within the confines of that new reality? That's the billion-dollar question.

"Fantastic Four" may not touch $600 million, but, even if it does, it's still a far cry from what Marvel Studios hoped for. Mind you, the "Fantastic Four" rights were a big part of Disney's $71.3 billion purchase of Fox in 2019, along with the "X-Men" rights. It was certainly much, much more than securing character rights for Marvel Studios, but Kevin Feige undoubtedly assumed that these characters could lead to $1 billion franchises within the larger scope of the MCU.

When "Avengers: Endgame" made $2.79 billion in 2019, the MCU seemed untouchable. In the years since, however, the pandemic upended moviegoing habits, and Disney+ has become a larger focus, with more people choosing to stream stuff at home. More importantly, Marvel Studios has failed to consistently deliver crowd-pleasers as it did pre-pandemic, with movies like "Eternals," "Black Widow," "The Marvels," and "Ant-Man and the Wasp: Quantumania," proving more divisive. Even hits like "Thor: Love and Thunder" were met with far less praise than their predecessors like "Thor: Ragnarok."

It's all added up to a situation where the general public doesn't perceive the average MCU movie as a must-see event anymore. Even a reboot of a property as well known as the Fantastic Four, one that was met with great reviews, can only garner so much attention. If Marvel can't make an A-list team work at this juncture, what hope does a property like "Nova" or "Power Pack" have? Case in point: "Thunderbolts*" was similarly met with very good reviews yet failed to deliver at the box office. So, what now?

Is Marvel merely hoping that audiences will show up for "Avengers: Doomsday" next year because the word "Avengers" is in the title? Let's not forget, the Fantastic Four and the Thunderbolts (aka the New Avengers), are big parts of the cast. If "Doomsday" disappoints against sky-high expectations, what then? It may sound silly to assume an "Avengers" movie could disappoint, but at this point, nothing is guaranteed for the MCU. The only thing that's clear is either something needs to change or Disney needs to make peace with diminishing returns.

"The Fantastic Four: First Steps" is now playing in theaters.