Like most blockbusters, Marvel Cinematic Universe installments aren’t cheap to make, and is no exception. Ahead of the film’s release in theaters later this month, its production budget has reportedly been revealed. A piece in detailing director Matt Shakman and the filmmaker’s career notes that First Steps has “a budget north of $200 million.” That figure is presumably what the movie cost before marketing expenses are factored in. It’s also in line with budgets for other recent MCU movies, such as Ant-Man and the Wasp: Quantumania and Deadpool & Wolverine, both of which also cost $200 million.

$200 million isn’t exactly pocket change, but The Fantastic Four: First Steps was considerably cheaper to make than The Marvels, which was budgeted at $270 million. First Steps also, understandably, cost less than Guardians of the Galaxy Vol. 3 ($250 million), which was the last sequel in one of the MCU’s most lucrative sub-franchises.

The Fantastic Four: First Steps is actually the most expensive of Marvel’s three 2025 big-screen releases. Both Thunderbolts* and Captain America: Brave New World cost $180 million to produce. The smaller budget didn’t help either at the box office, however, as both underperformed. In the aftermath of Thunderbolts*, some people feel Marvel will considering a change in their film strategy moving forward.