Back in August, it was revealed that Sony and Disney had failed to come to terms on a new agreement to share Spider-Man on the big screen. At the time, it seemed highly unlikely that the two would work things out, especially as it seemed Sony seemed to have no interest in agreeing to Disney's new terms. Until last night, of course.
After weeks of countless rumors, Spider-Man is set to live another movie (or two) in the Marvel Cinematic Universe. It was announced on Friday that Sony and Disney had agreed on a new deal to share the web-slinger. However, rather than a three-picture deal this time around, the new deal calls for the two studios to work on a third Spider-Man movie, while also allowing for one more Spider-Man appearance in another Marvel Studios film. So, without further ado, we break down everything we know concerning the new deal.
THE FINANCES
Although Sony's Tom Rothman appeared to imply a deal failed to come together because of how busy Marvel Studios' Kevin Feige was, all of the initial reports concerning the falling out suggested Sony did not want to increase Disney's profits. It was said Sony "balked" at Disney's request for a 50/50 split on Spider-Man films going forward, however, later reports would suggest the number was far lower -- as in between 25-30%. Despite being lower, the number was still high compared to Disney's 5% profit share on Spider-Man: Homecoming and Spider-Man: Far From Home -- especially considering Disney receives all merchandising revenues. However, at some point on Thursday, the two parties came to an agreement with Disney now set to receive roughly 25% of the profits, along with all merchandising revenue; this new deal will also see Disney put up roughly a quarter of the financing for the still-untitled third Spider-Man film.
Interestingly enough, it appears talks were actually reignited between the two parties following D23 in August. It's unclear what took so long for the them to reach a new agreement, however, it would seem the backlash from fans online ultimately led to Disney re-approaching Sony with a new deal.
Perhaps more surprising, however, was that the film already had a release date slotted when news broke that a new deal had been reached. Sticking with a July release, the third Spider-Man film from Marvel Studios and Sony will hit theaters on July 16th, 2021. It's also expected that director Jon Watts, who helmed the first two instalments, will return to direct the next instalment. This news shouldn't be too surprising, though. As many will recall, following the initial falling out between the two studios, it was reported that the two were fighting over Watts.
TWO MORE MOVIES
This new deal will allow Marvel Studios and Sony to close out a trilogy of Spider-Man films with actor Tom Holland in the titular role. However, one small caveat from the new deal promises one more Spider-Man appearance in a Marvel Studios film. Unfortunately, though, it's not exactly clear which film that is given Marvel's massive slate. As it stands, Marvel Studios recently wrapped production on Black Widow, while production on The Eternals officially kicked off last week. Up next for the studio are Shang-Chi and the Legend of the Ten Rings, Doctor Strange in the Multiverse of Madness, Thor: Love and Thunder, Black Panther 2, Captain Marvel 2, and Blade. Of course, there's also the possibility the studio opts to include Spidey in the forthcoming Ms. Marvel series, although the trades seem to be stressing "film" rather than "project."
While it originally appeared as though Sony and Disney would work things out early on, with many calling the leaks to the press nothing more than a bargaining tool, Sony all but indicated the door had been shut. It was just on September 5th that Sony Pictures CEO Tony Vinciquerra stated the door on Spider-Man's future within the Marvel Cinematic Universe was "closed." However, it would seem negotiations were still very much ongoing as it's said the deal between the two studios was signed Thursday evening.
Here's to hoping Spider-Man's future within the MCU isn't as stressful going forward when it comes time to strike yet another deal.