The latest movie in the Marvel franchise has made a splash by crossing $1 billion at the global box office. “Spider-Man: No Way Home” only took 12 days to reach the milestone. Habitual Marvel fans might not be as shocked about the news since “Avengers: Infinity War” only took 11 days and “Avengers: Endgame” took five.
Even still, the film became the first to reach $1 billion globally since the start of the pandemic; “Star Wars: The Rise of Skywalker” opened in theaters in December 2019. The movie is headed towards “a $242M net profit after all worldwide home ancillaries, marketing costs and participations.” Some finance sources have concluded that if Marvel and Sony play their cards right, they could see a profit close to three times their actual output, yielding $610 million.
Needless to say, “Spider-Man: No Way Home” could potentially be Sony’s most profitable movie of all time. Unlike the Star Wars film, the John Watts-directed MCU title achieved this million-dollar box office without a Chinese release. As a result, a net profit of $610 million would best both “Spider-Man: Homecoming” with $200 million and “Spider-Man: Far From Home” with $339 million.
This fantastic occurrence poses a question about the importance of streaming and how these metrics are measured compared to ticket sales. “Wall Street is crazy for streamers,” says Deadline, “who evaluate their profit not a per picture basis, but on a production cost basis against total subscriber revenue.” In other words, streaming movies is becoming a more accessible avenue for production companies to make more money.
With its record-breaking opening weekend in North America and the anticipation for its Japanese debut on Jan. 7, 2022, “Spider-Man: No Way Home” is making waves in a noticeably low marketplace.
Written by Ogechi Onyewuchi
Edited by Cathy Milne-Ware
CNN: ‘Spider-Man: No Way Home’ is first film to make $1 billion since 2019; by Frank Pallotta
Deadline: ‘Spider-Man: No Way Home’, Already In The Black From $1B WW Box Office, Could See Ultimate $600M+ Net Profit; by Anthony D’Alessandro
Featured Image Courtesy of Brecht Bug on Flickr- Creative Commons License
Inline Image Courtesy of Gage Skidmore on Flickr- Creative Commons License