Marvel Studios first teased the formation of a Thunderbolts team within the MCU in 2021. The film was revealed to be in development in June 2022, when Schreier and Pearson were attached. The main cast was revealed in September, with additional casting through early 2023. Lee Sung Jin joined to rewrite the script by March 2023, one of several creatives who returned to work with Schreier from the Netflix series Beef (2023–present). Production was delayed due to the 2023 Hollywood labor disputes, causing some cast changes in early 2024. Calo joined by then for further rewrites. Filming took place from February to June 2024 at Trilith Studios and Atlanta Metro Studios in Atlanta, Georgia, and also on location in Utah and Kuala Lumpur.
Thunderbolts* premiered on April 22, 2025, at the Cineworld Leicester Square in London, England, and was released in the United States on May 2, as the final film of Phase Five of the MCU. The film’s ending reveals that the Thunderbolts team is rebranded as the “New Avengers”, with the end credits revealing the alternate title, The New Avengers; following the film’s opening weekend, Marvel Studios began marketing it with that title. Thunderbolts* received positive reviews from critics, and has grossed $172.9 million, becoming the eighth-highest-grossing film of 2025.
