Last year, Superman made headlines when documents (filed by the movie's production team with the Ohio government to seek incentives) listed the budget as $363.8 million.
DC Studios co-CEO and Superman director James Gunn was quick to debunk the story, taking to social media to write, "How in the world do they think they know what our budget is?" The only problem with his response was that the documents in question were official; this wasn't a number plucked out of thin air by a social media scooper.
Recently, we've heard that Superman will cost $225 million after incentives and tax breaks. The Hollywood Reporter, however, disputes the figure. While that may indeed be the cost of production, a robust marketing campaign makes that $363 million figure a little more likely.
"One longtime financier says the $363 million figure isn’t incorrect," writes the trade. "And sources say DC and its parent could spend as much as $200 million on the global marketing campaign, compared with the usual $150 million for an all-audience summer tentpole. It wouldn’t be a surprise, since Superman kicks off the Gunn era and needs to work at the box office."
"Either way, between the production budget and marketing, it’s certain to land in the $400 million club," the report continues. "According to a veteran studio source, Superman, which opens July 11 in North America, is exploding on social media, with the first full trailer raking in 250 million-plus views, the most in Warners/DC history."
It adds, "Based on such metrics, a domestic debut of $175 million or thereabouts is within the realm of possibility; it even has a shot at finishing with $1 billion-plus globally. 'There’s no way to defend these budgets, because when you get into the $700 million to $900 million break-even point in regards to box office and ancillary revenue, it doesn’t make any sense,' says a veteran financier."
While those potential box office figures are good news for Superman, it certainly doesn't sound like the first DCU movie will make a massive profit. Then again, that might not be the point with this one.
DC Studios is looking to restore faith in a tarnished brand, and if they deliver a great movie that grosses $1 billion worldwide, then no one will care how many millions have been made by the studio. The public perception will be that DC is back and better than ever.
If Superman soars next month, then it will bode well for Supergirl: Woman of Tomorrow and Clayface. However, if Deadpool & Wolverine proved anything, it's that one movie's success doesn't necessarily carry over to another (Captain America: Brave New World and Thunderbolts*).
How much did The Fantastic Four: First Steps cost? That's not clear, and the movie isn't mentioned in this article.
Superman arrives in theaters on July 11, 2025.