Warner Bros’ $800 Million Reckoning: How Digger and Supergirl Sank the Studio’s Year

A year ago, Warner Bros. was the toast of Hollywood, with a run of hits and a Best Picture winner. A year later, its theatrical fortunes look very different. A new report puts the expected loss on Warner Bros.’ 2026 slate at more than $800 million, with the Skydance executives who now run the studio calling the spending reckless. Two big-budget bombs sit at the centre of the damage: Tom Cruise’s Digger and the DC Studios film Supergirl.

The slide has been dramatic. Variety puts Warner Bros.’ box office share at 6 per cent this year, down from 21 per cent in 2025, with none of its 2026 releases crossing $100 million domestically. Page Six Hollywood reports that the studio’s slate is headed for losses above $800 million, with Digger accounting for roughly $250 million and Supergirl for around $150 million of the write-offs.

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, then fell about 60 per cent in its second weekend to $3.2 million. Reported budgets range from about $125 million to $180 million, with nearly $100 million more spent on marketing. Digger was also the last film Warner Bros. released before its acquisition by Paramount Skydance closed on October 6.

Supergirl, James Gunn’s second DC Universe film, premiered in June with Milly Alcock in the title role. Directed by Craig Gillespie, it cost a reported $170–186 million and grossed about $126 million worldwide. Loss estimates range from roughly $80 million to $150–200 million, depending on how marketing and ancillary revenue are counted. Either way, it is one of the year’s most prominent flops, adding to worries about DC’s big-screen plans.

Here is the Filmverse take: under new ownership, Warner Bros. can no longer treat $150 million-plus auteur bets and franchise relaunches as routine. Page Six suggests 2027 could be even worse, pointing to costly projects including a Sam Esmail film reportedly costing $160 million — raising pressure on tentpoles from Dune: Part Three and Man of Tomorrow to Godzilla x Kong: Supernova and The Lord of the Rings: The Hunt for Gollum. Streaming revenue will soften the final losses, but the theatrical showing sets the market’s view of the studio. For DC’s other big-screen bets, see our report on Clayface’s opening here: https://filmverse.in/clayface-box-office-43-million-worldwide-dc-tom-rhys-harries/

Sources: Comic Basics (citing Variety and Page Six), Wikipedia — all loss and budget figures are reported trade estimates