Spider-man is back in the marvel cinematic universe after Marvel and Sony studios struck a new deal to continue their partnership.
The two companies announced that Marvel will be producing a third film for “Spider-Man: Homecoming” series, on Friday. The movie will feature Tom Holland, however, the remaining characters haven’t been announced yet.
According to several reports, the companies had reached an impasse over a new financing deal during the summers. However, the two seem to have worked out some new terms.
Sony solely owned the movie license to Spider-Man, however, in 2015, it struck a deal with Disney for the shared custody of the superhero. The deal put the superhero in the Marvel Cinematic Universe, making it one of its key characters.
The deal fell apart when Disney wanted a 50/50 partnership for the film’s finance, with Feige remaining in a consulting producer capacity. Sony, however, wanted to keep the arrangement under the initial terms where Marvel received around 5% of first-dollar gross and all merchandising revenues.
A new deal was signed on Thursday and included the chief of Sony studios, Tom Rothman, and Feige and Walt-Disney’s co-chairs, Alan Horn and Alan Bergman. According to an insider, in exchange for Feige’s producing expertise, Marvel and Disney will receive around 25% of the profits. Disney will also maintain its merchandising rights and will put up a quarter of the financing.
Feige spoke on the subject in a statement, “I am thrilled that Spidey’s journey in the MCU will continue, and I and all of us at Marvel Studios are very excited that we get to keep working on it. Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe. He also happens to be the only hero with the superpower to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold”.
Marvel licensed the rights to Spider-Man to Sony, nearly 20 years ago. However, Sony’s first round of Spider-Man movies, directed by Sam Raimi, didn’t acquire much praise. Its second attempt, starring Andrew Garfield and directed by Marc Webb, was even less successful.
The studio brought Marvel and Feige back into the game with “Spider-Man: Homecoming”, which proved to me a massive success, recapturing the “creative mojo of the first series”. The film also got a lift from Holland’s web-spinner appearing in the Avengers movies, making him a key character of the Marvel Universe.
Robert Lawson, the chief communications officer of Sony Pictures Entertainment said, “We have had a great collaboration over the last four years, and our mutual desire to continue was equal to that of the many fans. We are delighted to be moving forward together”.
The film is set to release on 16 July, 2021. Amy Pascal will, again, be one of the producers of the movie – like she has been for the previous two Holland-led films. She said, “This is terrific. Peter Parker’s story took a dramatic turn in ‘Far From Home’ and I could not be happier we will all be working together as we see where his journey goes”