The much-anticipated sequel to the 2018 blockbuster “Aquaman,” titled “Aquaman and the Lost Kingdom,” has found itself struggling at the global box office, failing to replicate the success of its predecessor. Despite the initial optimism fueled by the previous film’s impressive $1.1 billion gross, the sequel has only managed to amass a modest $378 million in global receipts so far. This is a significant downturn for the DC Extended Universe (DCEU), which once boasted several billion-dollar hits.
The movie is set to transition to digital video on demand (VOD) on January 23rd, followed by a physical media release on March 12th. While an estimated final total of $410-415 million may offer some relief, it underscores a broader trend in the DCEU, where the once-mighty DC Comics cinematic brand has experienced a five-year slump, marked by underwhelming performances.
A closer look at the DCEU’s collective box office performance reveals a troubling pattern. Films like “Shazam!,” “Birds of Prey,” “Wonder Woman 1984,” “The Suicide Squad,” “Black Adam,” “Shazam! Fury of the Gods,” “The Flash,” “Blue Beetle,” and “Aquaman and the Lost Kingdom” have combined for a total box office of $2.2 billion worldwide. However, this seemingly impressive figure loses its luster when averaged per film, resulting in a meager $246 million per movie. The financial challenges become even more apparent when considering that the lowest budgeted DCEU movie still incurred about $90 million in production costs before factoring in marketing and other expenses.
The underwhelming box office performances have been exacerbated by the impact of the COVID-19 pandemic. Films like “Wonder Woman 1984” and “The Suicide Squad” released during challenging times for theaters, with pandemic-related restrictions and streaming competition affecting their revenue potential. However, these challenges only partly explain the decline in the DCEU’s standing.
“Aquaman and the Lost Kingdom” is currently positioned as the eighth-highest grossing film in the DCEU, but its trajectory may allow it to surpass “Black Adam” if it manages to exceed $390 million. Despite its seemingly mid-range position, it’s crucial to note that the middle tier conceals a more significant issue—a lack of true blockbusters. Once past “Aquaman and the Lost Kingdom” and “Black Adam,” the box office chart sees a leap into the $600+ million range, followed by the blockbuster echelon at $800 million to $1 billion.
This statistical breakdown reveals that the DCEU is comprised of nine underperformers, two films that barely met expectations, and only four true blockbusters. This disappointing ratio of eleven disappointments to four successes is a cause for concern and prompts reflection on the studio’s strategies.
A noteworthy exception to the recent trend is 2022’s “The Batman,” which successfully grossed $772 million. However, there is speculation that the film could have achieved even greater success were it not for the overarching negative perception associated with the DCEU. The influence of the DCEU’s weakened reputation appears evident in the performance of “The Flash” in the summer of 2023, despite featuring one of the most iconic Batmans—Michael Keaton. The film struggled, ending with a paltry $271 million, further emphasizing the negative impact of the DCEU’s reputation on even highly anticipated and well-received films.
The broader concern is not limited to box office numbers but extends to the overall perception of the DC brand. Even Batman’s enduring popularity couldn’t fully shield the character from the tarnishing effects of the DCEU’s missteps. The success of “The Batman” and its positive reputation weren’t sufficient to bolster the 2023 slate of DCEU releases, revealing the depth of damage the brand has incurred.
While the prospect of a rebooted DC Universe holds promise, there’s skepticism about the studio’s ability to learn from past mistakes. The success of upcoming projects and spinoff series may hinge on addressing issues related to decision-making, interference, and the overall brand reputation. Although eager to witness the continuation of successful series like “The Batman,” doubts persist about audience reception and Warner Bros. (WBD) resisting the temptation to repeat past errors.
In summary, the challenges facing the DCEU extend beyond individual film performances. They encompass a decade-long struggle marked by bad choices, bonus-chasing, personal grudges, and a lack of course correction. The upcoming reboot offers hope, but the road to restoring the DC brand’s credibility appears steep, requiring a combination of creative vision, strategic planning, and a genuine commitment to delivering quality content that resonates with audiences.
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