Market Data 
The Marvel Cinematic Universe has roared back to life.
After suffering a years-long dry spell that had fans and industry observers wondering whether the lucrative franchise was destined for irreversible decline, Marvel Studios showed that it still has plenty more gasoline left in the tank.
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“Deadpool & Wolverine” clawed through initial analyst expectations, delivering a monster $211 million jolt to the domestic box office. That made the threequel the biggest opening of 2024, the biggest opening ever for an R-rated film, and the sixth biggest opening of all-time. Internationally, the film grossed $443 million, all but ensuring it will easily sail past the $1 billion mark.
The film’s massive success pushed Marvel past the $30 billion mark at the global office, making it the highest-grossing franchise of all-time.
Meanwhile, the box office success coincided with the Disney-owned studio making buzzy announcements at Comic-Con. The studio revealed to an electric crowd on Saturday night that the Russo Brothers will return to direct the next two “Avengers” films, due out in 2026 and 2027. And, in a stunning announcement, Robert Downey Jr. emerged onstage as Marvel unveiled the one-time “Iron Man” actor as the franchise’s next big supervillain, Doctor Doom.
Suffice to say, by the weekend’s end, Marvel was riding high.
The much-needed shot in the arm couldn’t have come sooner for the studio, an important component of Disney’s profit engine. While it had regularly churned out superhero-sized blockbusters, Marvel has not-so-secretly struggled since “Avengers: Endgame,” the epic 2019 climax that was 22 films in the making. Since then, the studio has produced a string of movies that have failed to resonate with audiences and critics, such as “The Marvels,” “Eternals,” and “Ant-Man and The Wasp: Quantumania.” On Disney+, outside“Loki,” the Marvel shows by and large have failed to generate buzz and find footing in the cultural discourse.
In a way, Marvel acknowledged to its fans over the weekend that it had veered off the road. In “Deadpool & Wolverine,” Ryan Reynolds’ titular character joked that Wolverine was joining the MCU at a “low point.” Later in the film, Deadpool also channeled audiences when he complained about the confusing nature of the multiverse and asked Marvel executives if they could put that storyline to bed.
The move to bring back the Russo Brothers and Downey Jr. suggests that Bob Iger’s Magic Kingdom has heard audiences loud and clear. Bringing the three back into the fold signals that the franchise is pivoting back to the fan-favorite ingredients that reliably delivered in the past.
That said, returning to the past as a bet on future hits is also a tacit admission that the Marvel creative engine has faltered. It’s certainly a smart temporary solution to get the MCU back on track. But what happens when Marvel doesn’t have the Russo Brothers and Downey Jr. to lean on?
Disney will eventually have to find an answer to that question. But, for now, Iger and his Marvel executives have bought themselves a few years of runway.
