Finally! Some good news for Sony Pictures. Still limping after the cyber hacking debacle at the end of 2014, Sony Pictures pleases fans with epic news. Sony Pictures and Marvel Comics announced they would partner together going forward on Spider-Man movies. Sony shareholders definitely demonstrated their clap of approval as shares jumped 5% at the announcement.
While the deal does not mean that the major movie house will return the rights to the Spider-Man character to Marvel (Sony bought rights off Marvel in 1999), the two companies will team together in order to reinvigorate the series with some much needed juice (or venom).
Historically, Spider-Man has been a top grossing story for Sony Pictures, however the last two productions saw drastically reduced revenues. As a result, the production company sought to pump up the 2012 release by bringing fresh blood to Peter Parker, replacing actor Tobey McGuire with Andrew Garfield. But, that didn’t do the trick.
The realm of Super Heroes is not want for competition. Marvel Comics has partnerships with two of the other production mega-factories: 20th Century Fox (owner of rights to X-Men) and Paramount Pictures (owner of rights to The Avengers and Iron Man). Additionally, Warner Bros. has a claim on the space in with their partners at DC Comics producing the Batman series.
Although Spider-Man was a top earner in the early 2000s, boasting record-breaking margins for an action flick, its ability to attract the crowd has dwindled. Paramount-owned Iron Man and The Avengers scooted into Spider-Man’s place, grabbing higher earnings per release and averaging about 65% better margins than Sony Pictures. The real foe is Warner Bros. though. The studio killed it with Batman. Gotham’s superhero leads the pack with the highest gross ($395,596,826) and the best margins ($200,596,826).
It seems like a clear win for Sony to get back in the game with Marvel, but Marvel stands to benefit from the partnership, too. The comic giant will now have the ability to bring Spider-Man into other movies it co-produces with other production houses. This will enhance the number of possibilities for storylines and character engagement. Sony, of course, will earn a kickback anytime Spidey swings onto the silver screen.
We’re excited to see this partnership, not just because we’re sure it will mean more special effects and action-packed storylines. Sony has been sitting on the Spider-Man asset for nearly 2 decades but has failed to really let Peter Parker flex his muscles in the last 8 years. It’s also surely good news for Sony after the beating they took earlier this winter pulling a major Blockbuster after Cyber Hackers threatened the company if it dared release the film. We’re pulling for Spidey and want to see him gain back his due ground!