Warner Bros. Faces a Brutal Box Office Reckoning as ‘Digger’ and ‘Supergirl’ Sink the Studio’s Year

A year ago, Warner Bros. was the toast of Hollywood, with a run of hits and a Best Picture winner to its name. A year later, the studio’s theatrical fortunes look very different. The conversation around Warner Bros.’ box office losses has turned grim, and two big-budget bombs sit at the center of it.

The shift has been dramatic. According to Variety, Warner Bros.’ share of the box office fell from 21% in 2025 to just 6% this year. None of its 2026 releases has crossed $100 million at the domestic box office, a stat that would have been unthinkable not long ago.

Now a new report puts a staggering number on the damage. Page Six Hollywood reports that the studio’s 2026 slate is expected to lose more than $800 million, with the Skydance executives who now run the studio calling the spending reckless. The two largest write-offs are Tom Cruise’s ‘Digger’ and the DC Studios film ‘Supergirl.’

WARNER BROS is losing over $800M this year, including the two biggest bombs of the year: DIGGER ($250M+ loss) and SUPERGIRL ($150M loss). https://t.co/LzsvJgdVOK

— Global Box Office (@GlobalBoxOffice) October 29, 2026

‘Digger,’ directed by Alejandro G. Iñárritu and starring Cruise, opened on October 2 and quickly turned into a cautionary tale. It took in $8 million in North America and $12 million internationally, for a $20 million worldwide opening. That was Cruise’s lowest domestic opening since ‘Lions for Lambs’ in 2007, which made $6.7 million.

The numbers only got worse. Ticket sales fell about 60% in the second weekend, to $3.2 million, and reports say the film is a write-off of roughly $250 million. It placed fifth on its opening weekend, well behind ‘Verity,’ which took the top spot with $32.6 million.

Part of the problem is the price tag. Reported budgets for ‘Digger’ vary from about $125 million to as much as $180 million, and the studio spent nearly $100 million more on marketing, according to one report. Even a conservative estimate would require a global gross far above what the film is on track to make.

Reviews were mixed, and Iñárritu himself had predicted the dark satire would be polarizing. Cruise has said he does not make films with opening weekends in mind, but the numbers leave little cushion. Warner Bros. had positioned the film as an awards contender, which raised the stakes further.

‘Supergirl,’ James Gunn’s second DC Universe film, also underperformed. The movie premiered in June, carried a production budget reported between $170 million and $186 million, and grossed about $126 million worldwide. Estimates of the loss vary widely, from roughly $80 million to the $150 million to $200 million range.

That figure depends on how marketing and ancillary revenue are counted, which explains the gap. Either way, the film is now one of the year’s most prominent flops. It also adds to worries about DC’s big-screen plans.

The two bombs are not the whole story. Maggie Gyllenhaal’s ‘The Bride!’ reportedly lost close to $100 million or more, while ‘Practical Magic 2’ and ‘The End of Oak Street’ each lost tens of millions of dollars. The studio’s earlier release ‘One Battle After Another’ won Best Picture, though it reportedly lost money theatrically too.

‘Digger’ was also the last film Warner Bros. released before its acquisition by Paramount Skydance closed on October 6. The studio’s film chiefs exited around the same time. Those events turned the film’s collapse into a symbolic capper for an era.

Diggin’ it. Watch the new #DiggerMovie trailer. DIGGER only in theaters October 2. https://t.co/QLhmfXpyW4

— Digger (@diggerthemovie) July 18, 2026

The Page Six report suggests that 2027 could be even worse, and it points to costly projects, including a Sam Esmail film reportedly costing $160 million. That has raised pressure on the studio’s remaining tentpoles. Hopes now rest on ‘Dune: Part Three,’ ‘Man of Tomorrow,’ ‘Godzilla x Kong: Supernova,’ ‘The Lord of the Rings: The Hunt for Gollum’ and an ‘Ocean’s’ prequel.

Analysts note that ‘Digger’ will still earn money through streaming and other downstream sources, which could soften the final loss. But the theatrical showing sets the tone for how the market views the film and the studio. For the new owners, the question is how quickly they can turn the ship around.

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