Tron: Ares Stumbles at the Box Office — and Sony Should Be Nervous About Its $200 Million Bet

Tron: Ares did not blast off. It limped. And that stumble matters beyond the Grid, because it puts a brighter, harsher light on Jared Leto headlining another big swing next year: Masters of the Universe.

Tron: Ares underperforms out of the gate

Per Box Office Mojo, Disney rolled out Tron: Ares to softer-than-expected numbers and it still couldn not top Tron: Legacy's opening weekend. That would be bad on a normal day; it looks worse when you remember Legacy was considered a disappointment at the time.

• IMDb: 6.7
• Rotten Tomatoes: 54% Tomatometer / 87% Audience Score
• Opening box office: $33.2 million domestic, $26.7 million international

So yeah, not the reboot re-ignition Disney was hoping for.

Why that spooks Masters of the Universe

After Barbie blew the doors off, Mattel started moving other big IP pieces into place, including Masters of the Universe, now dated for next year. Amazon MGM Studios and Sony are backing it after Netflix walked away over cost concerns. Nicholas Galitzine is playing He-Man; Leto is Skeletor, the cackling arch-enemy.

The catch: the movie reportedly costs about $200 million (via Deadline) — pricier than Ares. Mattel chief creative officer Robbie Brenner has framed it as the deliberate flip side of Barbie, saying it plays with masculinity but keeps it fun (via TheWrap). That pitch tracks, but Barbie also had Margot Robbie, Ryan Gosling, and Greta Gerwig steering the ship. Here, the biggest name is Leto — and given the recent data points, that is a risk you can feel from the cheap seats.

The Leto problem (and the broader IP problem)

Leto is an Oscar winner, no question, but his blockbuster track record lately has been rough. Morbius became a punchline and a money pit for Sony. Add ongoing chatter about his alleged offscreen behavior, and it is pretty clear he is not a guaranteed ticket-seller on his own. Sony already learned that the hard way once; Disney is feeling it now with Ares.

Zoom out and it is part of a bigger trend: a known IP no longer guarantees a turnout, even with a built-in fanbase. That does not doom Masters of the Universe, but it raises the bar for how good the movie needs to be to overcome the price tag and the skepticism.

So, where does that leave He-Man?

Not dead on arrival, just under pressure. If Masters is sharp and crowd-pleasing, it can win over critics and audiences in a way Leto's recent studio outings have not. We find out June 5, 2026 in the US. In the meantime, Tron: Ares is in theaters if you want to see the conversation starter for yourself.

Does Sony's gamble pay off this time, or are we headed for another 'it is Morbin time' scenario nobody asked for?