This is all an unprecedented turn of fortune for a company that has enjoyed a nearly uninterrupted string of hits ever since it started independently producing its movies with 2008’s “Iron Man.” That wildly profitable run culminated in the $2.8 billion success of 2019’s “Avengers: Endgame,” a high-water mark for the studio that has earned nearly $30 billion over 32 films.
Replicating that kind of phenomenon is never easy. However, the source of Marvel’s current troubles can be traced back to 2020. That’s when the COVID pandemic ushered in a mandate to help boost Disney’s stock price with an endless torrent of interconnected Marvel content for the studio’s fledgling streaming platform, Disney+. According to the plan, there would never be a lapse in superhero fare, with either a film in theaters or a new television series streaming at any given moment.
But the ensuing tsunami of spandex proved to be too much of a good thing, and the demands of churning out so much programming taxed the Marvel apparatus. Moreover, the need to tease out an interwoven storyline over so many disparate shows, movies and platforms created a muddled narrative that baffled viewers.
“The Marvel machine was pumping out a lot of content. Did it get to the point where there was just too much, and they were burning people out on superheroes? It’s possible,” says Wall Street analyst Eric Handler, who covers Disney. “The more you do, the tougher it is to maintain quality. They tried experimenting with breaking in some new characters, like Shang-Chi and Eternals, with mixed results. With budgets as big as these, you need home runs.”
“The Marvels,” which opens in theaters on Nov. 10, will struggle to get the ball past the infield, at least by Marvel’s outsized standards. The movie, which cost $250 million and sees Brie Larson reprising her role as Captain Marvel, is tracking to open to $75 million-$80 million — far below the $185 million “Doctor Strange in the Multiverse of Madness” took in domestically in its debut weekend last year.
Directed by Nia DaCosta, “The Marvels” unites Larson’s heroine with two superpowered allies, Teyonah Parris’ Monica Rambeau (introduced in the 2021 Disney+ series “WandaVision”) and Iman Vellani’s Kamala Khan (first seen in the 2022 series “Ms. Marvel”). But instead of seamlessly building on the success of “Captain Marvel,” this move resulted in four weeks of reshoots to bring coherence to a tangled storyline.
Then eyebrows were raised again when DaCosta began working on another film while “The Marvels” was still in postproduction — the filmmaker moved to London earlier this year to begin prepping for her Tessa Thompson drama “Hedda.” (A representative for DaCosta declined to comment.)
“If you’re directing a $250 million movie, it’s kind of weird for the director to leave with a few months to go,” says a source familiar with the production.
The Critical Drinker is wondering why Variety is finally working his side of the street. (He speculates that Kathleen Kennedy and/or her minions want to shift focus to another failing Disney-owned franchise to take the heat off of her — at least for a while.)