MASTERS OF THE UNIVERSE Faces an Uphill Battle at the Box Office Despite Strong Early Reactions
The new Masters of the Universe movie finally arrives in theaters this Friday, but if current tracking numbers hold, He-Man may have a tougher fight on his hands than Skeletor.
While early reactions to the film have been surprisingly enthusiastic, box office forecasts suggest the long-awaited fantasy adventure could stumble out of the gate during its opening weekend.
According to Global Box Office, Masters of the Universe is currently tracking for a domestic debut between $27 million and $35 million. For most movies that might be respectable, but it becomes a much bigger concern when you consider the reported production budget.
Forbes reports that the Amazon MGM Studios film cost at least $170 million to make, meaning it will need a substantial theatrical run to justify that investment.
The movie is based on the iconic fantasy franchise and Mattel's He-Man toy line. It follows Prince Adam, played by Nicholas Galitzine, who has spent years living in the real world.
After discovering the Sword of Power, he's drawn back to Eternia, where he joins forces with Teela, played by Camilla Mendes, Man-at-Arms, played by Idris Elba, and other allies as he embraces his destiny as He-Man and prepares to face Skeletor, played by Jared Leto.
Despite the franchise's popularity in animation over the years, this marks only the second live-action Masters of the Universe movie ever made.
The first arrived in 1987 and starred Dolph Lundgren as He-Man. Unfortunately, that film struggled financially as well, earning just $17.3 million worldwide against an estimated $22 million budget.
That history is part of what makes the performance of this new adaptation so interesting to watch. Mattel is aggressively expanding its presence in Hollywood following the massive success of Barbie, which earned more than $1.4 billion globally.
The toy company has several other projects moving through development, including Matchbox: The Movie, a Barney adaptation, and a film based on Polly Pocket.
A disappointing launch for Masters of the Universe wouldn't necessarily derail those plans, but it certainly wouldn't be the kind of momentum Mattel would like to see following Barbie's historic run.
Still, writing off the film before opening weekend may be premature. After advance screenings in May, reactions from critics and attendees were notably positive.
Some even described the movie as "one of the biggest surprises of 2026," while comparisons were made to Marvel favorites Thor and Guardians of the Galaxy.
The box office landscape has also been anything but predictable lately. Original horror films Obsession and Backrooms recently blew past expectations and even outperformed The Mandalorian and Grogu on the charts. Those results serve as a reminder that tracking numbers aren't always the final word.
Whether Masters of the Universe can generate that same kind of last-minute surge remains to be seen. The film certainly has the nostalgia factor, recognizable characters, and a wave of encouraging first reactions working in its favor.
Now the big question is whether audiences will actually show up and answer the call of Eternia when Masters of the Universe hits theaters on June 5.