Marvel Cinematic Universe: Phase Five continues the Multiverse Saga with high‑stakes crossovers, franchise conclusions and bold R‑rated experiments, pushing the MCU into riskier territory while testing audience appetite after more than a decade of interconnected storytelling.
This phase currently features six films – Ant‑Man and the Wasp: Quantumania, Guardians of the Galaxy Vol. 3, The Marvels, Deadpool & Wolverine, Captain America: Brave New World and Thunderbolts – together totalling over $3.6 billion in worldwide box office across major hits and more challenging releases.
This guide continues my “Complete MCU Explained” series from the Cinema Awards Archive YouTube channel, focusing on how Phase Five builds on Phase Four’s multiverse groundwork and sets up the road to the next Avengers event films.
Phase Five’s film slate is officially numbered as MCU entries 31–36: Ant‑Man and the Wasp: Quantumania, Guardians of the Galaxy Vol. 3, The Marvels, Deadpool & Wolverine, Captain America: Brave New World and Thunderbolts.
Below, each film gets its own section covering story focus, critical reception and box office performance.
Ant‑Man and the Wasp: Quantumania (2023) is the third Ant‑Man film and the 31st MCU entry, directed by Peyton Reed from a screenplay by Jeff Loveness.
The story sees Scott Lang, Hope van Dyne, Cassie, Hank and Janet pulled into the Quantum Realm, where they encounter Kang the Conqueror, a powerful multiversal villain whose presence is positioned as a key threat for the Multiverse Saga.
The film received mixed reviews, with praise for Jonathan Majors’ performance and some of the world‑building, but criticism aimed at its heavy CGI, uneven tone and overreliance on setup for future projects.
With a reported production budget near $380 million and a worldwide gross of about $476 million, Quantumania was seen as a box‑office disappointment and one of the few MCU films that struggled to break even theatrically.
Guardians of the Galaxy Vol. 3 (2023) is the third Guardians film and the 32nd MCU entry, written and directed by James Gunn as the conclusion to his cosmic trilogy.
The film focuses on Rocket Raccoon’s traumatic origin as the Guardians race to save his life from his creator, the High Evolutionary, an obsessive scientist determined to “perfect” the universe, forcing the team to confront their pasts and their future together.
Gunn’s involvement went through a turbulent period – he was fired in 2018 over resurfaced tweets, later rehired after cast and industry support, and completed the film after working on DC’s The Suicide Squad and Peacemaker.
Vol. 3 was both a critical and commercial success, widely regarded as a heartfelt and satisfying conclusion to the trilogy. It grossed over $845 million worldwide, becoming one of 2023’s top‑grossing films and earning an Academy Award nomination for Best Visual Effects.
The Marvels (2023) is the sequel to Captain Marvel (2019), a continuation of the Disney+ series Ms. Marvel (2022), and the 33rd film in the MCU, directed by Nia DaCosta, who co‑wrote the screenplay with Megan McDonnell and Elissa Karasik.
The film teams Carol Danvers, Monica Rambeau and Kamala Khan as “the Marvels” after their powers become entangled, causing them to swap places whenever they use their abilities, forcing them to work together to stop a Kree‑driven threat.
Critics offered mixed reviews, often praising the lead performances and some of the fun, shorter runtime, while criticizing the script, pacing and tonal inconsistencies.
With around $206 million worldwide against a large reported budget, The Marvels became the lowest‑grossing MCU film to date and one of the franchise’s most notable box‑office underperformers, frequently cited in discussions about MCU fatigue.
Deadpool & Wolverine (2024) is the 34th MCU film and the first R‑rated entry in the franchise, continuing the story of the previous Deadpool films under the Marvel Studios banner, directed by Shawn Levy.
The film follows Deadpool as he recruits a reluctant variant of Wolverine from another universe to help stop the Time Variance Authority from erasing his reality, using multiverse chaos to bring Fox‑era X‑Men elements into the MCU.
Critics praised the chemistry and performances of Ryan Reynolds and Hugh Jackman and the film’s self‑aware humour, though some reviews were less positive on the plotting and overall cohesion.
Deadpool & Wolverine became a box‑office phenomenon, grossing about $1.338 billion worldwide, making it the second‑highest‑grossing film of 2024, the highest‑grossing R‑rated film of all time and, at release, one of the top 20 films ever at the global box office.
Captain America: Brave New World (2025) is the fourth film in the Captain America series and the 35th MCU entry, centered on Sam Wilson’s tenure as Captain America following the Disney+ series The Falcon and the Winter Soldier (2021).
Directed by Julius Onah from a script by Rob Edwards and writing teams including Malcolm Spellman, Dalan Musson and Onah & Peter Glanz, the film follows Wilson as he investigates a conspiracy linked to U.S. President Thaddeus Ross, pulling him into a politically charged thriller.
The movie has grossed around $415 million worldwide, ranking among the mid‑range box‑office performers of 2025 and reflecting ongoing debates about the MCU’s shifting theatrical draw.
Reviews have been mixed, with criticism aimed at the story’s reliance on wider MCU connections and some visual effects, while the performances – especially Anthony Mackie and Harrison Ford – have been consistently highlighted as strengths.
Thunderbolts (2025) is based on Marvel’s antihero team of the same name and is the 36th film in the MCU, directed by Jake Schreier from a screenplay by Eric Pearson and Joanna Calo.
The film brings together a group of antiheroes and morally grey characters who are trapped in a dangerous situation and forced to work together on a high‑risk mission, leaning into a darker team‑up dynamic compared with the traditional Avengers.
In a notable twist, the ending reveals that the Thunderbolts are rebranded as the “New Avengers”, with the asterisk in the film’s title standing for The New Avengers. After opening weekend, Marvel Studios began marketing the movie with that subtitle more prominently.
Thunderbolts received positive reviews from critics for its cast chemistry and fresh energy, and has grossed about $378 million worldwide, making it one of the lower‑grossing MCU outings but still among the higher earners of 2025’s global box office slate.
- The Complete Marvel Cinematic Universe Explained (In One Video)
- Part 1: The Complete Marvel Cinematic Universe Explained! - The Infinity Saga
- Part 2: The Complete Marvel Cinematic Universe Explained! - The Infinity Saga!
- Part 3: The Complete Marvel Cinematic Universe Explained! - Epic Infinity Saga Climax
- Part 4: The Complete Marvel Cinematic Universe Explained! (Multiverse Saga Begins)
- Part 6: The Complete Marvel Cinematic Universe Explained! (Multiverse Saga Finale)
- Part 7: Marvel Cinematic Universe's Epic Movie Lineup!
Phase Five shows an MCU in flux – balancing crowd‑pleasing send‑offs like Guardians Vol. 3 and mega‑hits like Deadpool & Wolverine with riskier swings and mixed receptions that sparked conversations about franchise fatigue and the future of Marvel’s big‑screen strategy.
As the Multiverse Saga moves toward planned event films like Avengers: Doomsday and Avengers: Secret Wars, Phase Five’s wins and stumbles will likely shape how Marvel calibrates Phase Six and beyond.
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