Jared Leto has another box office dud on his hands. After four days in theaters, Disney’s Tron: Ares has grossed just $36.8 million, falling behind even Morbius, which made $41.1 million in its first four days. That’s a troubling sign for Leto, and for the studio behind his next major project, Masters of the Universe.
Leto stars as Skeletor in next year’s Masters of the Universe movie, where he is the biggest-named actor in the film. Instead, the Tron: Ares flop raises new concerns about how marketable he really is and whether audiences will turn out for another effects-heavy fantasy built around him.
Tron: Ares Adds to Leto’s Losing Streak
Tron: Ares was expected to open strong, with projections of $45–50 million, but it came in well below that. It’s already shaping up to be another expensive misfire for Disney, with an estimated $180 million budget.
That puts Leto in familiar territory. Morbius, Sony’s Marvel spinoff, was mocked online for its weak box office and even weaker reception, becoming a pop culture punchline. Now, Tron: Ares looks like déjà vu, another effects-driven flop with Leto front and center.
What This Means for Masters of the Universe
The Masters of the Universe reboot, produced by Mattel and Amazon MGM, is supposed to hit theaters next year. But the project has already faced skepticism from fans. Reports suggest that much of the movie takes place on Earth instead of Eternia, a move often seen as a cost-cutting measure that rarely excites long-time fans (can you say low budget?).
There’s also concern about how Skeletor will be portrayed. Jared Leto is the biggest name attached to the film, and there is concern Leto will appear frequently as Keldor, Skeletor’s pre-transformation self. That could mean less time under the skull mask, similar to how Pedro Pascal pushed to show his face in The Mandalorian, or how Halo broke fan trust when it unmasked its lead character early in the series, which failed completely.
Facing an uphill battle
If audiences don’t buy into Leto’s performance, Masters of the Universe could struggle to win over fans who already view him as miscast. Both Tron and He-Man also target a similar audience — an older-skewing male demographic nostalgic for 1980s pop culture but increasingly skeptical of Hollywood reboots. That crowd has shown it won’t show up just for brand recognition or CGI spectacle. They want authenticity, respect for the source material, and a lead actor who fits the role.
If Tron: Ares couldn’t bring that audience back to theaters, it’s a warning sign that Masters of the Universe may face the same uphill battle, especially if it leans too much on Jared Leto’s star power instead of what made He-Man iconic in the first place.
Mattel Promises Big Things
Despite the skepticism, Mattel Studios President Robbie Brenner insists that Masters of the Universe is massive in scope. Speaking at MIP in Cannes (via THR), she said the production used eight backlots and featured eight-foot-tall characters, calling it the biggest movie she’s ever worked on — even compared to the billion dollar Barbie.
“I went and visited the set last year, and out of all the movies that I’ve worked on in my entire life — even Barbie — it was [the biggest]. It was massive. I think we took over two or three sound stages. This was on eight back lots… [Characters] walking around that are eight-feet tall. There are these crazy characters in this movie,” she said.
“I just actually got to see a director’s cut of the movie,” she added, “and [I was] absolutely blown away. That will be our second theatrical movie… I think it’s a perfect compliment to Barbie. I think people are going to be so excited. It is so much fun and feels so different.”
If true, the film could defy the current skepticism, but Leto’s recent track record won’t make it easy.
With Tron: Ares crashing hard, Jared Leto’s box office credibility is looking shaky. His next test will come with Masters of the Universe, where he’ll try to convince fans he’s more than a digital disaster. But unless the movie delivers something fresh — and fans actually see Skeletor, not Jared Leto playing himself — it could end up joining his growing list of flops.
Release info
Masters of the Universe is set to hit theaters December 19, 2026, from Mattel Studios and Amazon MGM Studios. The film is directed by Travis Knight (Bumblebee, Kubo and the Two Strings) from a script by Chris Butler and David Callaham.
The movie stars Nicholas Galitzine as He-Man/Prince Adam and Jared Leto as Skeletor, alongside Camila Mendes as Teela and Idris Elba as Man-At-Arms.
Morena Baccarin appears as the Sorceress, and Jóhannes Haukur Jóhannesson is Fisto, with Kristen Wiig as Roboto.
Jon Xue Zhang portrays Ram-Man, Stephen Adentan plays Moss Man, and Alison Brie, Sam C. Wilson, Kojo Attah, and Hafthor Bjornsson fill out Skeletor’s evil ranks as Evil-Lyn, Trap Jaw, Tri-Klops, and Goat Man, respectively. James Wilkinson plays Mekaneck.
James Purefoy and Charlotte Riley appear as King Randor and Queen Marlena. Sasheer Zamata and Christian Vunipola round out the cast.
