Summary

• The Marvels had a budget of $270 million, making it one of the most expensive non-Avengers movies in the MCU. The updated budget reflects the film's ensemble cast and VFX-focused nature.
• The Marvels needed to make around $450 million at the box office to be considered a success after taking into the subsidy received.
• The Marvels disappointing box office total of $199.7 million made it one of the MCU's lowest-grossing projects.

Marvel Studios' MCU's 2023 projects, early projections for The Marvels weren't looking especially positive.

The Marvels' star power was a brilliant draw, as not only did the project feature Captain Marvel's return, but it also marked the theatrical debuts of Parris' Monica Rambeau and Vellani's Kamala Khan. Samuel L. Jackson also returned alongside the titular trio, but The Marvels' impressive cast wasn't enough to get the film reaching the incredible box office success of its 2019 predecessor, which crossed $1 billion. The Marvels' sizable budget meant that it needed to do well at the box office to be considered a success, but Nia DaCosta's MCU debut ultimately didn't match its predecessor's impact.

The Marvels' Budget Was Around $270 Million

The budget for The Marvels was around $270 million according to a report from Forbes, making it the fourth most-expensive MCU movie and the highest budget for a non-Avengers film. Comparing the sequel to its predecessor, Captain Marvel had a budget of around $175 million. The Marvels was originally reported to have a budget of $130 million, which would’ve made it one of the least-expensive MCU films to make. However, the updated budget more appropriately reflects the film’s ensemble cast, VFX-focused nature, and expansive storyline that developed the narrative of the overall MCU Multiverse Saga.

The Marvels' Filming Subsidy Explained

The Marvels was mostly filmed in studios just outside of London thanks to the United Kingdom’s Film Tax Relief. The UK government offers a cash rebate of up to 25% for qualifying film productions, which Marvel Studios took advantage of with The Marvels. Although big-budget films like those in the MCU aren’t usually so open with their financial numbers, studios are usually more accepting of the disclosure for the sake of the money earned back. Disney received $55 million back from The Marvels’ subsidy, lowering the production’s average spending to around $219 million.

How Much The Marvels Made At The Box Office

To be considered a box office success, The Marvels needed to make around $450 million at the global box office, taking into the filming subsidy. Considering Captain Marvel made over $1 billion back in 2019, it would have been natural to assume that The Marvels would follow in its footsteps. However, this was a tough ask considering the MCU’s recent track record. Hollywood box office numbers, in general, took a hit after the COVID-19 pandemic. Marvel Studios has recovered more successfully than most due to its blockbuster nature, but this makes the MCU's low points even more noticeable.

While the big-name follow-up films like Spider-Man: No Way Home and Doctor Strange in the Multiverse of Madness were successful releases, the average domestic box office of most MCU movies post-COVID has been around $350 million, while worldwide is considerably higher at $780 million. 2023's WGA and SAG-AFTRA strikes also had an impact on the MCU, causing major delays and issues with marketing, which led to The Marvels tracking considerably lower in its early projections. A $450 million box office tally would just be enough to consider the film a profit, but not necessarily a box office success.

Was The Marvels A Box Office Success?

According to The Marvels is not considered a box office success - and has even been called a box office bomb - the project still marks the highest-grossing movie ever for a Black female director, with Nia DaCosta beating Ava DuVernay's A Wrinkle in Time.

Despite its poor box office total, The Marvels actually received generally positive reviews from audiences and critics alike, with many praising the chemistry between Larson, Parris and Vellani, and the film's fast pace and action-packed story also received praise. However, tonal inconsistencies and the film's writing received criticism, which surely didn't help the box office turnout during its theatrical run. After the disappointing performance of The Marvels, and several other MCU projects from 2023, it's a hopeful sign that Marvel Studios has been making changes, so the future is looking much brighter.