On the one hand, Marvel Studios just managed to show its haters that it still has the legs to draw in big audiences, as one of its movies has managed to land a place among the most streamed films of 2023. Unfortunately, which movie it is doesn’t entirely bode well for how the MCU’s current phase is shaping up.

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Nielsen has unveiled the top most-streamed films and TV shows of the year, combining data from Netflix, Disney Plus, and all the major platforms. Although no Marvel productions feature on the TV list — what? Like Secret Invasion was going to be on there? — one MCU movie did make its way into the top 10 films. While two Phase Five releases hit Disney Plus last year, neither Ant-Man and the Wasp: Quantumania nor Guardians of the Galaxy Vol. 3 managed a place on the list. Instead, 2022’s Black Panther: Wakanda Forever slipped in at number eight:

1. Moana
2. Encanto
3. The Super Mario Bros. Movie
4. Elemental
5. Minions: The Rise of Gru
6. Sing 2
7. Frozen
8. Black Panther: Wakanda Forever
9. Avatar: The Way of Water
10. Glass Onion: A Knives Out Mystery

In addition to being the only superhero film on the list — commiseration to DC efforts Shazam! Fury of the Gods, The Flash, and Blue Beetle — Wakanda Forever is also the highest-rated live-action film in this top 10, coming ahead of Avatar: The Way of Water and Glass Onion. All in all, Marvel should be proud of how much streaming audiences took to this emotional sequel. If only it didn’t make us worry about where the franchise is headed.

Black Panther: Wakanda Forever made Disney Plus history — can Deadpool 3 repeat the magic?

Wakanda Forever‘s high placement on the year’s top 10 isn’t a surprise when you recall that it destroyed Disney Plus records upon its streaming premiere in Feb. 2023. The Letitia Wright-led follow-up to 2018’s phenomenally popular original earned the biggest-ever worldwide Disney Plus debut for a film. As per Nielsen, Black Panther 2 accrued a royal 6.4 billion minutes watched across the year. Imperius Rex, indeed.

This is an incredible achievement, for sure, but it is perhaps troubling that Wakanda Forever — the final entry in Marvel’s Phase Four — triumphed over its Phase Five successors with ease. While it’s no surprise that the universally panned Quantumania didn’t scratch the top 10, it’s disappointing that Guardians 3 didn’t. After all, the two films only had about $15 million difference between their respective box office grosses — Black Panther 2‘s $859.2 million vs. Guardians 3‘s $845.6 million.

Phase Five just isn’t delivering event movies like prior phases. It all rests on Deadpool 3, this year’s only Marvel Studios cinematic release, to see if it can break Wakanda Forever‘s record. Surely the combined popularity of Ryan Reynolds’s Deadpool and Hugh Jackman’s Wolverine can do it, right? If not, then it’s up to Captain America 4 (unlikely, as The Falcon and the Winter Soldier is not the most-streamed Marvel show), Thunderbolts (after Black Widow only did OK? Nah, move along), and Fantastic Four (it all depends on who’s in the cast).

So, congrats to Black Panther 2 but this might be the last major Marvel streaming win we’re able to celebrate for a while.