‘Supergirl’ Reportedly Lands Among the Costliest Flops in DC History
‘Supergirl‘ was supposed to show that the rebooted DC Universe could build a franchise beyond its biggest name. Instead, the Milly Alcock-led film has become a case study in how expensive a misfire can get, with new reporting suggesting its final losses rank near the top of the studio’s troubled history.
The film arrived with real momentum behind it. ‘Superman’ had grossed $618 million worldwide on a $225 million budget, giving James Gunn and Peter Safran a strong start at DC Studios. Directed by Craig Gillespie, ‘Supergirl’ followed with a reported production budget of $170 million to $186 million, plus roughly $120 million in marketing.
According to Page Six, ‘Supergirl’ lost Warner Bros. a reported $135 million even after digital and physical sales were counted. That would make it the second-biggest DC bomb of all time, behind only ‘The Flash,’ which reportedly lost $155 million when it flopped in 2023. The same report claims Warner Bros.’ 2026 slate is expected to lose more than $800 million, with ‘Supergirl’ and Tom Cruise’s ‘Digger’ as the largest write-offs.
The trouble was visible almost immediately. The film opened on June 26 to $37.1 million in North America and $62.6 million globally, finishing a distant second to ‘Toy Story 5.’ Audiences gave it a B- CinemaScore, critics left it at 56% on Rotten Tomatoes, and it was reportedly trimmed significantly after test screenings.
Word of mouth did not rescue it. The movie fell roughly 74% to 77% in its second weekend, one of the steepest drops for any superhero release, and it shed more than 1,000 theaters heading into its third frame. It wrapped its theatrical run at about $126 million worldwide, against a reported break-even point of around $300 million.
That total makes it the lowest-grossing DC film in more than two decades. It also trails the recent underperformers it was compared to at launch, including ‘Joker: Folie à Deux.’ Warner Bros. Discovery even singled the film out in its second-quarter earnings, when studio profits fell 89% to $96 million.
The $135 million figure is only one of many estimates, and the range is wide. Deadline projected a $125 million loss after opening weekend, Variety pointed to about $100 million, and TheWrap said $85 million. A source cited by Variety believed the damage would be closer to $80 million to $85 million, but only if the film reached $200 million worldwide, which it never did.
The first trailer for ‘SUPERGIRL’ has been released. In theaters on June 26, 2026 https://t.co/8o7abMjrw2
— DiscussingFilm (@DiscussingFilm) December 11, 2025
Later estimates climbed much higher, with some outlets citing $150 million and others $200 million to $240 million. Those differences usually come down to how marketing, theater splits and ancillary revenue are counted. Page Six’s number is notable because it explicitly factors in home-entertainment sales rather than relying on box office alone.
The comparison to ‘The Flash’ also needs context. That film earned about $271 million against a budget of roughly $220 million, so it lost more despite grossing far more than ‘Supergirl.’ Some outlets also put ‘Wonder Woman 1984’ losses as high as $135 million, which would tie it with the latest figure.
The financial fallout has been tied to a larger shake-up. Variety’s recent reporting labeled ‘Supergirl’ a money-loser, and Gunn and Safran have since been dismissed as DC Studios co-CEOs, with Jeremy Latcham set to take over on Dec. 1. Safran said after the opening that the film did not meet box office expectations but described it as one piece of a long-term strategy.
Analysts argued from the start that a movie about Superman’s cousin could not carry the same price tag as a ‘Batman’ or ‘Superman’ picture. Box office watchers saw the modest $40 million budget on ‘Clayface’ as an encouraging sign that DC had absorbed that lesson, though the studio’s leadership change now leaves its next steps in question.
Alcock is still expected to return as Kara Zor-El in ‘Man of Tomorrow,’ scheduled for July 2027. The film has also reportedly found a second life on streaming through HBO Max, although analysts doubt home viewing can come close to recouping what was lost in theaters. For now, ‘Supergirl’ remains a costly lesson in what happens when a lesser-known hero carries a blockbuster-sized price tag.
Do you think 'Supergirl' was simply too expensive a gamble for DC?
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