Superman Didn’t Lose Money | And Neither Forbes Nor Variety Said It Did
Every couple days, the same narrative pops up online “James Gunn’s Superman bombed.”
I’m sure you’ve seen the posts, be it a screenshot from some random website or maybe a tweet cropped out of context and BOOM suddenly the doomsayers are screaming that DC Studios is doomed again!
Fact is, no legit outlet says Superman lost money. Not even close.
What Forbes Actually Said
Recently a article from Timm Lammers’ in Forbes released which people are taking out of context.
Shockingly the piece isn’t actually an attack… it was math, and cautious math at that.
He, in a simplistic way, laid out Superman’s final theatrical numbers
Domestic: $354 million
International: $261 million
Worldwide: $615 million
Then he cited a $225 million production budget and $125 million in marketing from Variety. Using the industry’s old, and might I add out dated, 50/50 box-office split rule, he estimated that Warner Bros. would take home about $308 million from theaters.
That’s less than the $350 million total spent on production + marketing. HOWEVER! Forbes immediately clarifies,
“Whether Superman will ultimately end up making or losing money is yet to be determined.”
Simply put, the article literally says we don’t know yet.
It doesn’t call it a flop. It doesn’t say “Warner Bros. lost $40 million.”
It theorizes the theatrical run alone doesn’t cover all costs and that future revenue streams such as PVOD, streaming, merchandise, and TV deals will decide the final outcome.
That’s not a loss. That’s a normal theatrical business model in 2025.
Let’s be real Forbes isn’t working off insider ledgers or direct studio reports. They’re using educated guesses and industry standard estimates… things like the outdated 50/50 box office split rule, a rumored $125 million marketing spend that’s been floating around for months, and broad cost figures with no confirmed sources. In other words, it’s not an exposé it’s a column speculating on what the outcome might be based on available data. That’s fine for analysis, but it’s not gospel.
What Variety Actually Reported
We then have the Variety piece everyone’s quoting like it’s gospel from early September.
Their insiders, which were unnamed, claimed that Superman is “expected to generate around $125 million in theatrical profits.”
Be careful to notice those words though… expected and around.
That’s industry jargen for “sources estimate.”
Variety even adds that Warner Bros. declined to comment and that an insider disputed the numbers without giving alternatives.
That means it’s an educated estimate, not a studio certified figure.
Trades do this stuff all the time. They will piece together projections from distribution accountants, rival studios, and finance trackers. Sometimes they’re right on the money, sometimes a little off, but they’re not fabricating numbers. That would be a death sentence to their publication.
So, when Variety says “around $125 million,” it’s a positive early projection based on what’s currently known.
Crazy thin is Forbes doesn’t contradict that… it actually supports it.
Forbes speculates the theatrical run alone couldn’t cover total costs, while Variety’s sources say it did and even turned a profit once the global accounting is tallied.
Both pieces simply come from different sources, different data, and different levels of access.
The Truth Between the Lines
Here are the truths that we DO KNOW and can’t dispute.
Superman made over $615 million worldwide during a time when Comic Book Movies have been struggling.
It was the #1 movie on HBO Max after release.
It revitalized audience confidence in the DC brand.
The final profit/loss isn’t public yet.
And really, that’s all that matters.
Superman did what Warner Bros. Discovery & DC Studios needed it to do…
GET PEOPLE EXCITED AGAIN.
It launched James Gunn’s DCU with strong reviews, huge streaming numbers, and a genuine cultural moment for a genre that’s been on life support since before 2023.
When the superhero market is struggling, and a rebooted Superman still pulls in $600 million + worldwide? That’s not a failure. That’s a statement.
The Real Story… Impact Over Internet Math
The only ones desperate to label Superman a “flop” are the same tired Snyder Bros still fighting ghosts of the past… You know the ones! Those think posting memes and pretending they have inside sources counts as a career.
These are the folks hiding from their families in basement closets full of toys, or renting garbage trucks in New York City covered in pointless hashtags and giant logos.
Meanwhile, the rest of the world moved on.
Warner Bros. Discovery & DC Studios is happy.
James Gunn is prepping Man of Tomorrow and Peacemaker is killing it on HBO Max with many other projects due to release or about to start production in the coming months.
So no, Superman didn’t lose money… and the people claiming it did haven’t read a single line past the headlines.
