Shazam! may be something of a standalone film, but it's still closely connected to the rest of the DC Extended Universe. When the DCEU launched in 2013, Warner Bros. was attempting to weave a single consistent narrative through multiple films. That's why there are Superman references and the Batman cameos in Suicide Squad; because they helped create a sense of narrative cohesion.

The last few DC movies have abandoned that approach, though. Aquaman contained a throwaway reference to the battle against Steppenwolf in Justice League, but other than that it might as well have been a standalone origin story. That's even more the case with Shazam!, a film that revels in taking place in the same world as Superman and Batman, and yet has the courage to stand on its own two feet.

Related: Everything We Know About Shazam 2

So how does Shazam! fit into the wider DCEU? That question is best answered by looking at all Shazam!'s connections to the rest of the shared universe, some subtle and some far more obvious.

Superhero Merchandise

Shazam! features a wealth of superhero merchandise, most notably in one scene where Billy finds himself tossed into a toy shop. Amusingly, every piece of merchandise - every action figure, every toy, and every piece of superhero memorabilia - really does exist. But director David F. Sanberg has stressed that it was all chosen with the greatest of care. Toys were only used if they represented heroes already confirmed to exist in the DCEU; a Green Lantern reference, for example, would have been completely out of place.

That level of conscious thought turns this superhero merchandise into an important plot point in the DCEU as a whole. It means that all the heroes featured in the toy store - most prominently Batman and Superman, but also Wonder Woman - are now viewed as celebrities by the entire world. In Man of Steel and Batman v Superman: Dawn of Justice, the world was deeply divided in its view of superheroes; some adored heroes, others distrusted them. Evidently the Justice League's defeat of Steppenwolf, and the accompanying resurrection of Superman, has changed that. Now, kids adore superheroes, even re-enacting real-life events - as shown in one scene where a child bashes together a Superman and Batman action figure, playing out his own version of Batman v Superman.

Interestingly, if Warner Bros. did indeed put this level of thought into the various toys featured in that toy shop, then Shazam! has added another key event into the history of the DCEU's Batman. In the background, one of the Batman toys is what looks to be the Fisher Price version of the Superheavy mech. In the comics, this suit of armor was created by the Gotham City Police Department at a time when Batman was believed to be dead, and was worn by none other than Commissioner Gordon himself. Its inclusion in Shazam! suggests that similar events have played out in the DCEU as well.

Related: Shazam! Every Easter Egg & Secret DC Reference

Freddy's Souvenirs

Meanwhile, Billy's foster-brother Freddy is shown as the ultimate superhero fanboy, all done in such a way as to make him an amusing parody of comic book fans in the real world. Freddy's room contains a shrine to his favorite superheroes, packed with newspaper clippings and magazines discussing the events of previous films. The most notable are an issue of TIME Magazine, dedicated to exploring the psychological impact of General Zod's attack on Metropolis in Man of Steel, and a clipping celebrating Superman's return - "SUPERMAN IS BACK!" Meanwhile, Freddy also has a collection of different pieces of superhero memorabilia, including a few items that have probably cost him quite a bit. The most beloved is a bullet that bounced off of Superman's chest, flattened from the impact with the Man of Steel; it even has a certificate of authenticity. A sharp-edged Batarang proves a lot more useful than anyone could have expected, distracting Sivana at a key moment, and helping Mary work out how to beat the villain.

Throughout Shazam!, Freddy wears T-shirts inspired by his legendary heroes, including Superman and Batman. The film even highlights one of these in a post-credits scene, where Freddy is getting Billy to test if he has the power to talk to fish. Billy objects that this sounds stupid, and asks when that power would ever come in useful. In response, Freddy simply points to his Aquaman T-shirt. This doesn't just confirm that Aquaman is as celebrated a hero as the rest of the Justice League in the DCEU; it also hints that the dramatic end of Aquaman - in which Arthur Curry's ability to talk to fish brought an end to the war between the Tribes of Atlantis, before it could spill over on to the surface world - are now public knowledge.

Page 2: Ace Chemicals and the Superman Cameo

Shazam Freddy and Superman

The Superman Cameo

The most explicit DCEU connection in Shazam! is the Superman cameo. At the end of the film, Billy delights his foster-brother Freddy when he turns up at the school cafeteria to eat with him - "in costume." Even better, to Freddy's delight he brings along a friend, who he's presumably teamed up with in an unseen adventure; Superman. The camera carefully avoids showing the hero's face, but it doesn't need to; the costume isn't exactly difficult to recognize, and Freddy's joy is palpable, confirming this is the real deal.

There's been a slight costume change from the version last seen in Justice League - this suit has two red and gold portions at the hips. From an out-of-universe perspective, there's a reason Shazam! hides Superman's face; it's because Henry Cavill wasn't involved. At the time Shazam! was shooting, there were reports that the relationship between Cavill and Warner Bros. was close to falling apart, with rumors Cavill was attempting to renegotiate this contract. Given the uncertainty over Cavill's DCEU future, it's easy to see why Sandberg took this approach.

Related: Shazam's Origin Story, Powers & Movie Changes Explained

ACE Chemicals

Joker and Harley Chemical Wedding in Suicide Squad

Finally, there's a subtle connection between Shazam! and Suicide Squad. In one key scene, Billy and Freddy head to an abandoned warehouse in order to try and work out just what Billy's powers are. They test his strength, his speed, and his endurance, and generally seem to have a lot of fun. But, while the focus is upon the comedic training montage, the real Easter egg is of a corporate logo left behind amidst the metal beams and massive tanks. The logo is that of ACE Chemicals, one of the most notorious corporations in all of the DC Universe.

In the comics, ACE Chemicals are a company normally associated with Gotham City. One night, a fleeing criminal raced into ACE Chemicals, pursued by the Batman, and stumbled into a vat of unknown toxins. The Caped Crusader believed he had died, but in reality he had been transformed, emerging from ACE Chemicals as the Joker. The DCEU hasn't confirmed that its version of the Joker shares this origin story, but Suicide Squad heavily implied it, with a flashback scene showing the Joker give Harley Quinn the chance to prove her love by jumping into the same vat. They ultimately had a weird 'chemical wedding,' with the Joker jumping in again after her.

Amusingly, the empty warehouse in Shazam! is actually the Hearn Generating Station, a now-decommissioned power plant outside Toronto, Ontario. The exact same location was used to shoot the ACE Chemicals scenes in Suicide Squad.

More: Every DC Movie Coming After Shazam

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