Man that list needs updates, and not just all the new ones since, going all the way back to the oldest ones.
If you're going to justify the Shadow and Conan in there (which is all well and good), then before that you need Fairbanks' Zorro(not a serial), the father of all caped-crusader-masked-avenger-action-hero movies.
And all it's remakes.
Tarzan & John Carter, was there a Doc Savage movie? Lone Ranger & Green Hornet are other contenders.
Also this Superman was not a serial, why start in 66 with Batman?
And not counting the serials? Those were some of the first Superhero/Masked-Avenger movies, that pulled right from the comics and pulps.