2025 may go down as a turning point for theatrical exhibition. While Netflix’s much-discussed attempt to buy Warner Bros. hasn’t gone through (yet), this felt like the year many people truly fell out of love with going to the movies.
The writing has been on the wall for some time. The pandemic fundamentally changed how audiences consume media, and the box office has yet to reclaim its pre-COVID heights. While some movies still did very well, 2025 was also defined by an unusually high number of major flops—including from studios once considered bulletproof.
Below is a breakdown of the biggest box office winners and losers of 2025.
2025 was a rough year for the formerly untouchable Marvel juggernaut.
While none of the studio’s releases misfired quite as badly as Ms. Marvel, both Captain America: Brave New World and Thunderbolts failed to break even.
Marvel did fare somewhat better with Fantastic Four: First Steps, which made $521 million worldwide, but given a reported budget north of $200 million, profits were likely slim.
Going into 2025, many believed Warner Bros. co-chairs Michael De Luca and Pamela Abdy were on borrowed time due to the studio’s risky slate. The failure of 2024’s Joker: Folie à Deux cast a long shadow, and things didn’t improve early in the year when Mickey 17 flopped.
Then came the rebound.
Warner Bros. and its New Line Cinema shingle delivered one hit after another, including:
And yes—DC’s Superman, which earned $616 million worldwide.
While Superman was far from a smash (especially compared to Man of Steel, which performed much better when adjusted for inflation), it still outperformed anything Marvel released in 2025. Warner Bros. did take a loss on One Battle After Another, which is unlikely to turn a profit, but given the awards attention it’s receiving, the studio probably isn’t losing sleep over it.
Disney’s year was defined by extreme highs and lows.
On the losing side:
Yet Disney also released some of the year’s biggest hits, including:
Love them or hate them, Disney still commands a massive share of the theatrical marketplace, even in a down year.
Hollywood remains desperate for new stars as legends like Tom Cruise age out of their primes—but 2025 showed just how unpredictable star power has become.
Two actors, however, proved they still have genuine box office muscle:
2025 was brutal for star-driven prestige dramas, with almost all of them failing theatrically.
For adult-oriented prestige cinema, theatrical exhibition in 2025 was nearly a bloodbath.
From Marvel’s stumble to Warner Bros.’ resurgence, Disney’s whiplash year, and the near-collapse of prestige dramas, 2025 was one of the most volatile box office years in recent memory.
What do you think were the biggest box office stories of the year?
Let us know in the comments.