Marvel fans have much to celebrate as news is spreading that the next Spider-Man film will return to the Marvel Cinematic Universe.
Disney made a deal with Sony to own 25% of the film and provide 25% of the production budget. The third film in the Spider-Man franchise will be produced by Marvel President Kevin Fiege and former Pascal Pictures’ Amy Pascal. Spider-Man is slated for July 21, 2021.
Amy Pascal, who has produced the last two Spider-Man films, was thrilled about the deal. “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. This has been a winning partnership for the studios, the franchise and the fans and I’m overjoyed it will continue.”
Before Marvel Studios existed, Marvel was on the helm of bankruptcy. In order to stay afloat, the comic book company licensed its comic book characters to studios to produce and distribute as films. Out of the deal, Marvel would receive a fee for the film and the studio would recoup through box office sales. Both Fox and Sony made this type of deal with Marvel.
Soon, Marvel would decide to expand into a studio that produces and distributes its own films. There was just one issue. Licensing contracts were already in place for its most famous characters, X-Men, Spider-Man and the Fantastic Four.
Indeed, Marvel was in a complicated situation. That is, until Iron Man. Under the reign of Kevin Feign, Marvel was able to instill faith in the franchise and company with its 2008 release of Iron Man, which grossed over $98M in the first weekend and $585M worldwide.
The success of Iron Man put Marvel back on the map with fans.
Later, Marvel would make a major deal with Disney. Disney would acquire Fox and X-Men and Fantastic Four would fall back into the MCU, leaving Spider-Man to Sony. With the new deal, Marvel can now use the Spider-Man character in their other films, such as Venom, and have more creative input on the Spider-Man storyline.
Sony marveled over the new deal. “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,” said Sony communications officer Robert Lawson. “We are delighted to be moving forward together.”
