40 years ago, Dolph Lundgren‘s live-action Masters of the Universe film bombed at the box office, pulling in just $17.3 million from a $22 million budget. In 2026, the reboot faces the same uphill battle after a poor opening weekend, where the film opened to just $54.3 million worldwide against a reported budget of up to $200 million. But while fans and Amazon MGM aren’t calling it a bomb just yet, the math and history point to another unsuccessful He-Man release. And at the center of the bomb is Jared Leto… again.
Masters of the Universe’s Box Office Numbers Are Very Bad
Everyone who has seen Masters of the Universe (2026) seems to love the film, but word of mouth just isn’t working for the reboot. It earned $29.3 million domestically and just $25 million from 86 international territories in its opening weekend. To give you perspective, that’s lower than Mortal Kombat II (which struggled to find an audience)and even 2023’s Dungeons & Dragons: Honor Among Thieves (which was considered a huge flop).
For a movie that cost somewhere between $170 million and $200 million to produce (with Variety reporting the higher figure), the theatrical break-even point is somewhere around $500 million worldwide. On its current trajectory, Masters of the Universe has no realistic chance of making that in the coming weeks. What they need is a miracle, or the Power of Grayskull, if they even hope to make even half that figure.
See, studios don’t actually keep every dollar that comes through the box office. Movie theaters take a cut (usually close to half). Then you’ve also got to consider the studio’s marketing spend, which, for a global franchise attempt of this size, can add another $100 million or more. That’s why the industry standard is that a film generally needs to gross around two times its production budget just to break even. And based on its first week, Masters of the Universe might not do that.
And the reason is pretty obvious.
Is Jared Leto Box Office Poison?
In all honesty, the evidence was right in front of Amazon MGM this whole time and it has been building for years. Leto’s Morbius bombed so thoroughly it spawned its own internet meme: “It’s Morbin’ Time”. Disney’s Tron: Ares, with Leto in the lead, also bombed. House of Gucci, which also starred Leto, bombed too. You could probably trace the pattern even further back, but you get the picture. Leto has a streak now, and Amazon MGM seems aware of it. Why else would they remove him from the marketing of the film?
He skipped the premiere on May 19th. He wasn’t at CinemaCon. He didn’t post a single word about the film to his 11.4 million Instagram followers. While nobody has admitted it publicly, everyone believes the studio realized that his name recognition has become a liability.
There’s also the matter of the controversial personal allegations that have followed Leto in recent years, which have further cooled public appetite for anything he’s attached to. For a significant portion of the potential audience, his involvement is a reason not to show up, not a reason to buy a ticket.
The cruel irony is that, according to critics and audiences who actually saw the film, Leto is actually a great Skeletor. Our reviewer, Sergio Pereira, gave Masters of the Universe 4 out of 5 stars and called Leto the standout of the entire production.
Also, while he did also have weird antics on set again, it wasn’t as bad as his behavior on previous film sets.
So, as it turns out, the best thing about Masters of the Universe is the performance Amazon MGM spent months pretending doesn’t actually exist. Could that have set the film back too?
The Audience That Didn’t Show Up For Masters of the Universe
Looking at the demographic breakdown of those who attended the film over the opening weekend points to an issue too. Audiences skewed 66% male, with the single largest group being the 45-to-54 bracket at 29% of ticket buyers. Kids under 12 made up just 5% of the audience. Teens accounted for 6%. That’s bad for a film that’s meant to sell toys and is based on a popular kids’ cartoon.
It seems like He-Man’s core audience remains attached to the generation that grew up on the original Filmation cartoon in the 1980s. This isn’t like Barbie, which the studio probably based its marketing ideas on. But the nostalgia didn’t sell enough tickets to make a huge bang.
And yet, everything to make it work is right there. This is a film that definitely should be able to pull a huge crowd. It even has a Guardians of the Galaxy vibe that should attract fans who aren’t into He-Man. And the reviews were generally positive too: 67% on Rotten Tomatoes and a B CinemaScore.
But nobody went out to see it.
Amazon’s Spin Doesn’t Hold
In a statement to Variety, Amazon MGM domestic distribution chief Kevin Wilson called the opening “truly special” and framed the result as validation of the studio’s “holistic distribution strategy.” The argument is that Masters of the Universe will live on as Prime Video content, driving streaming engagement long after its theatrical run ends.
And, while that may be true, it’s heartbreaking to see He-Man bomb at the box office. Also, if theatrical performance wasn’t the point, Amazon should have just released it straight to streaming. Instead, the studio is trying to frame a weak opening as nothing more than a small setback.
Is Leto Coming Back For A Sequel?
Masters of the Universe‘s opening numbers probably shut down any hope of a sequel. Nobody is going to throw another $200 million on a franchise that doesn’t take off. There’s still some time, sure. It’s only the first week. But right now, Leto’s presence seems to be holding back audiences from actually leaving their homes to go see it. If the film becomes a smash hit on Prime Video, Amazon could probably still spin it as a success. But as it stands, the box office proves that Masters of the Universe has bombed.
RELATED: Dark Horse Surprises Fans With Tie-In Masters of the Universe Movie Prequel Comic
