May 2026 was a month of contrasts for Hollywood. Two major new releases arrived with very different opening trajectories, established titles continued building toward milestones, and one micro-budget film quietly became the best return-on-investment story of the year. Here is the full US box office breakdown for May.
New Releases: Mandalorian Delivers, Mortal Kombat Disappoints
The month's biggest domestic opener was Star Wars: The Mandalorian and Grogu, which arrived May 23 with a thunderous $60M+ Day 1 and has collected $118.9M domestic and $144M worldwide in eight days. Against a $166M production budget, the film still has ground to cover before reaching profitability on theatrical alone โ but Disney's franchise economics rarely hinge on opening weeks in isolation. The hold through its first weekdays was solid, and the second weekend will be the real indicator of long-term legs.
Mortal Kombat 2, released May 8, told a different story. Opening softer than its 2021 predecessor, the fighting franchise sequel has collected $76.3M domestic and $122.7M worldwide in 22 days against an $80M budget. The film is below breakeven in theatrical and the trajectory suggests a final domestic total around $85-90M โ a disappointing result for a property with a built-in fanbase.
Backrooms opened May 31 with $38.4M on Day 1 โ a strong horror debut that signals a potential breakout if it holds through the weekend. Budget unknown, but for the genre, this is a very promising start.
Michael Crosses $800M Worldwide
Antoine Fuqua's Michael biopic has been the sustained performer of the spring. In 36 days, the film has reached $331.2M domestic and $800M worldwide against a $155M budget โ a 5.16x worldwide ratio that firmly puts it in BLOCKBUSTER territory. The film benefited from exceptional word-of-mouth and an audience that extended well beyond the core Michael Jackson fanbase. Its weekday holds have been among the strongest of any 2026 release, and it is now tracking toward a $350M+ domestic final.
"Michael didn't just open well โ it ran. In a marketplace where most films collapse after weekend one, it held like a prestige drama."
Project Hail Mary: A Quiet $676M Hit
Phil Lord and Christopher Miller's adaptation of Andy Weir's novel has been building steadily since its March 19 release. At Day 70, it stands at $341.3M domestic and $676.7M worldwide against a $200M budget โ a 3.38x ratio. The film never had a blockbuster opening but accumulated through exceptional audience scores and repeat viewership. It has now become the third-highest-grossing film of 2026 globally and Ryan Gosling's biggest career hit.
The Devil Wears Prada 2: Crossing $600M
David Frankel's long-awaited sequel has passed $617M worldwide ($205.2M domestic) in 29 days. Against a $100M budget, the 6.17x worldwide ratio is one of the best of the year. The film drew its audience primarily from the original's fanbase โ older, female-skewing demographics that studios often underserve โ and performed exceptionally in overseas markets where the franchise has always had strong recognition.
Obsession: The ROI Story of 2026
The most remarkable number in May's Hollywood report has nothing to do with the big-budget releases. Obsession โ made for $1M โ has collected $86.5M domestic and $108.8M worldwide in 15 days. An 86x budget ratio. Whatever the film is, it has found an audience that studios with $150M productions are struggling to locate. It is the kind of breakout that reshapes acquisition strategies for the next two years.
Tail-End Performers
Several films entered their final theatrical phases in May. Hoppers ($386.5M worldwide, $150M budget) has been a steady if unspectacular performer. The Super Mario Galaxy Movie is deep in its tail at $426.1M domestic and $983.7M worldwide โ closing in on $1 billion โ and will finish as one of the year's biggest global hits. Billie Eilish: Hit Me Hard and Soft โ The Tour Live in 3D has collected $25.8M worldwide, a respectable result for a concert film.
Month Verdict
May confirmed that Hollywood's mid-tier is under pressure but its top end remains robust. Michael and DWP2 proved that character-driven films with strong IP can sustain long runs. Obsession proved that micro-budget originals still have a path to massive returns. The Mandalorian's opening demonstrated that Star Wars can still command a genuine theatrical event โ the question is whether it can hold. Mortal Kombat 2's underperformance is the cautionary note: franchise sequels without strong creative execution are no longer guaranteed returns.