Marvel's "Fantastic Four: First Steps" Launches with a Lukewarm Take, Signals Changing Landscape for Superhero Films

Marvel Studios' latest reboot, Fantastic Four: First Steps, kicked off with a global box office of $218 million after its July 25 debut — a performance that sits somewhere between a triumph and a letdown.

While the domestic numbers held steady, the international earnings—$100 million total, with only $4.5 million from China—highlight a stark shift in global moviegoing habits post-pandemic. Just a few years ago, Marvel blockbusters like Avengers: Endgame pulled in hundreds of millions from China alone; that 2019 juggernaut brought in $614 million from Chinese audiences. But those days, according to insiders, are likely gone for good.

“Studios need to rethink what success looks like now,” said one veteran talent agent representing multiple Marvel actors. “Without China's massive box office, no billion-dollar guarantees, no major stars leading every film, and with Disney+ cannibalizing theatrical interest, it's a new game.”

One industry source bluntly added: “China capitalized on Marvel’s dominance, then pivoted. That window has closed.”

Marvel, led by Kevin Feige, is recalibrating accordingly. With X-Men in early development under Thunderbolts director Jake Schreier and a screenplay by Michael Lesslie, Marvel is reportedly targeting a younger, less expensive cast — both for budgetary reasons and to highlight the “next generation” of mutants. Though the studio has set aside July 23, 2027, for an upcoming film, insiders say it won’t be X-Men. Marvel has not commented on the matter.

Meanwhile, Matt Shakman’s take on the Fantastic Four benefits from a modest budget—reportedly just north of $200 million—and the involvement of TV darling Pedro Pascal. Though Pascal brings strong small-screen credentials from shows like The Mandalorian and The Last of Us, he doesn’t command the same box office clout as the original Endgame ensemble. That casting approach may have helped contain costs.

Looking ahead, Marvel’s big tentpoles will feature some very familiar faces—and very large paychecks. Avengers: Doomsday, set for release on December 18, 2026, brings Robert Downey Jr. back to the franchise as Doctor Doom. Sources say Downey Jr., who’s pocketed between $500 million and $600 million across his Marvel appearances, is not cutting Marvel a deal this time around. Chris Hemsworth will also return as Thor, with Pascal appearing in a significant supporting role.

Wall Street analysts are closely tracking Marvel’s recovery, especially as Disney continues to integrate legacy 20th Century Fox franchises like X-Men, Fantastic Four, and last year’s monster hit Deadpool & Wolverine, which raked in $1.34 billion globally.

"Marvel remains a cornerstone of Disney's premium IP portfolio," said Robert Fishman of MoffettNathanson. "The better Marvel performs, the more it strengthens Disney’s overall position, especially with Disney+ subscriber growth starting to pick up again."

After Fantastic Four, Marvel’s theatrical slate will take a breather. The next release, Spider-Man: Brand New Day, swings into theaters July 31, followed by Doomsday in December 2026 and Avengers: Secret Wars in December 2027. Projects like Blade and a potential Deadpool 4 remain on the back burner, though insiders say there’s excitement brewing around a potential Black Panther 3 with Ryan Coogler back at the helm.

Despite years of false starts, Fantastic Four seems to have finally found its footing. Fans responded positively, earning the film an A- CinemaScore. Previous attempts stumbled: the 2005 version made $334 million, while the troubled 2015 reboot fizzled at $168 million amidst public controversy between director Josh Trank and Fox executives. This time, the biggest backstage hiccup was a writers’ credit dispute, resolved by the WGA in favor of Josh Friedman, Eric Pearson, Jeff Kaplan, Ian Springer, and Kat Wood.

In today’s superhero film landscape, a solid result is often good enough. The genre is still recovering from a rough patch that included underwhelming entries like Thunderbolts and The Marvels, alongside DC’s stumbles prior to the Gunn-Safran reboot.

Box office analyst Shawn Robbins summed it up: “There’s an overemphasis on opening weekend numbers. Word of mouth is strong for both Fantastic Four and Superman, and their long-term stories are still unfolding. While Fantastic Four may not be a runaway hit, it exceeded Disney’s expectations—and in this new era, that’s a win.”