James Gunn and Peter Safran's DC Universe continues to grow. Following the release of Superman, the studio is now gearing up for the premiere of Supergirl in a few months. Starring Milly Alcock and directed by Craig Gillespie (I, Tonya, Cruella), the film is an adaptation of Tom King and Bilquis Evelyn's Supergirl: Woman of Tomorrow comic book.
Much like its source material, Supergirl is expected to be a sci-fi epic, seemingly remaining faithful to its roots, while introducing exciting new elements into the story, such as Jason Momoa's space-based bounty hunter, Lobo. The thing about sci-fi epics is... they tend to be particularly expensive. For a brief period of time, it looked like Supergirl wouldn't be the exception to the rule. Forbes Australia recently published a profile on Milly Alcock, where it stated the film came with a price tag of $200 million. James Gunn, however, has since debunked the information
When asked on Threads if the number was legitimate, Gunn simply responded: "Not even a little bit true." Had it been accurate, though, the number would have fallen into a fairly standard range for comic book movies. For comparison, below are budgets for superhero projects from recent years:
Superman is a little more complicated to pin down in terms of budget, given that there's a debate regarding the final cost of the David Corenswet-led film. A purported Ohio tax filing stated the project had a gross budget of $363.8 million. James Gunn debunked this on Threads, stating:
"I don't know if it's faked or if it's just some weird form an assistant in the Cleveland office filled out putting random stuff in the blanks. I sent it to our accountants and financial producers when it first came out a year ago and no one knew what it was. I can just tell you it wasn't anyone on our team!"
Later, though, The Hollywood Reporter reported the amount was somewhat accurate. It's worth noting that, even if the budget reported in the filing was legitimate, a part of it was likely recouped through tax rebates. As of now, the most commonly accepted figure for the film is $225 million.
Looking at those numbers, Supergirl's now-debunked budget would have not only been common in the industry, it would have actually been on the lower end of spending in the genre. Nevertheless, such a price tag would have put its profit benchmark at a high level. Superhero films typically don't go below $100 million for marketing. Adding that lower amount to this recently shared budget, Supergirl could have come with a price tag of at least $300 million.
Using that number and going by industry standards of revenue participation, Supergirl would have had to roughly bring in $600 million to break even (and that's assuming the lowest end of marketing costs). Sadly, that's become a tough bar to clear in recent years. With that in mind, it will be interesting to see how Supergirl performs in theaters. Regardless of the now-debunked $200 million budget, as a sci-fi epic, the film is unlikely (though not impossible) to come in on the cheap end.
The superhero genre has experienced a decline in recent years. Movies that would have previously been guaranteed blockbusters like Superman and The Fantastic Four: First Steps performed only relatively okay. With Superman "only" reaching approximately $616 million, it's somewhat difficult to imagine Supergirl doing better than that, given her relative obscurity when compared to her cousin.
Having said that, even if the film struggles theatrically, it will have other avenues to fall back on, like merchandising, home video sales and brand partnerships—all of which have proven fruitful for comic book projects. Furthermore, this question regarding profitability can be applied to any superhero movie starring a niche character with a budget of over $150 million.
Supergirl is specifically used in this case because it is arguably the most high-profile superhero project coming out in 2026 starring a relatively obscure hero. The rest of the year will see the release of movies starring Spider-Man and the Avengers, both proven brands. Clayface is not considered for that category given that, while its protagonist is unknown, the film is reported to have a budget of around $40 million—a fairly easy profitability benchmark to clear for a horror feature.
This isn't to say the situation is looking dire for Supergirl, of course. While challenging given the aforementioned circumstances faced by the comic book genre, there is very much a possibility that Supergirl will find an audience at a level that other superhero projects have failed to achieve. Alcock's Superman cameo generated a lot of excitement for her character. which could translate into better and brighter box office returns.
Out of all the comic book projects coming out in 2026, the Milly Alcock-led adventure looks to be one of the most exciting ones. It has a talented director at the helm and it's based on one of the most renowned comic stories in years. Taking that into consideration, the film has a good chance of finding success with general audiences.
Supergirl flies into theaters on June 26, 2026.