It was a sad story last month when it was announced that Sony and Marvel's partnership on future Spider-Man movies was dead. But this morning, it was as if Tony Stark snapped his Infinity Gauntlet one more time, as the news broke that Sony and Marvel have agreed to a new deal that will not only bring us the third Spider-Man movie in 2021 but also keep Peter Parker in the MCU for the time being.
“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." -Kevin Feige (Marvel Studios President)
Credit: Sony Pictures
As a quick recap, Marvel licensed all right to Spider-Man to Sony back in the early 2000s, before Disney bought Marvel. Since then, that original deal gave Marvel 5% of the first dollar gross box office receipts, plus the same for merchandising revenue.
With Disney in the mix and the deal up, both studios were knee-deep in negotiations for the future of the Spiderverse, and Disney not only proposed a 50-50 split on all revenues with Sony but also in financing all Spider-Man films moving forward.
Sony ultimately refused the offer, walked away from the table, right as D23 was taking off. That not only left the future of Spider-Man unknown but also the MCU as it seemed that Marvel was positioning Peter Parker as the linchpin in the MCU moving forward. With both studios in a giant game of cinematic chicken, fans were caught in the middle like children in a nasty divorce.
Credit: Sony Pictures
But this morning, a new deal was announced by Marvel Studios president Kevin Feige, that Disney and Sony had met somewhere in the middle, with Marvel and Disney to receive 25% of all profits, plus keeping its merchandising rights. According to Variety, all other details are pretty much as they were before, with Amy Pascal producing future Spider-Man films under her Pascal Pictures banner, and Feige staying on as consulting producer. Marvel also gets the iconic web-slinger for one other future MCU film.
“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.” - Amy Pascal (Producer)
After this, I guess this will start all over again. But the future looks bright, as Feige concluded, "[Spider-Man] 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.”
The third Spider-Man: Homecoming film is scheduled for July 16, 2021.