Spider-Man: No Way Home Is On Track To Hit Another Box Office Milestone
"Spider-Man: No Way Home" has made a boatload of cash since it debuted all around the world. It is the first movie of the pandemic era to make $1 billion at the box office, and it did so in less than two weeks. Now, a new report lays out just how much money Sony and Marvel Studios stand to make from this gigantic blockbuster, and, spoiler alert, it's a lot.
According to Deadline, at this stage, director Jon Watts' "No Way Home" is already set to make around $242 million net profit, after accounting for marketing and other associated costs. This figure takes into account not only box office, but home video sales and other ancillary revenue streams. Even though the profits are based on estimates, that's incredible. However, this is only the beginning in many ways.
The report goes on to reveal that, if theaters can manage to stay open as the pandemic once again worsens thanks to the Omicron variant, Sony and Marvel will rake in a lot more dough. "No Way Home" could end up finishing with $1.75 billion worldwide at the top end, which would see the movie finish with around $600 million in total profits. That is downright spectacular, though it comes with a caveat, and one that has plagued Hollywood for a very long time.
Sony Probably Won't Admit It
Unfortunately for just about everyone who isn't at the top of the food chain in the movie business, studio accounting tends to see things differently. Ask any actor, screenwriter, or anyone else who has a bonus based on a movie's net profits, and the studio will tell you that even the most successful movies have lost money to avoid paying out royalties. That is why certain A-list talent can demand first-dollar gross in their deal, meaning that they get a percentage whether or not the movie gets into profits.
For example, it recently came to light that Fox (now owned by Disney) is trying to argue that the Queen biopic "Bohemian Rhapsody" lost $51 million, despite the fact that it grossed more than $900 million at the global box office against a comparatively tiny $52 million budget. Yes, it gets that bad. If that movie can't make money, then how does the movie business work at all? This all came to light because the screenwriter Anthony McCarten had to sue in an attempt to get money he was owed because the movie made so much at the box office.
The point is, even if Sony won't admit it, this latest MCU adventure is on track to make a lot of people a whole lot of money. Bet on seeing a lot more from "Spider-Man" in the future, as the studio will keep milking this cash cow for as much as it's worth.
"Spider-Man: No Way Home" is in theaters now.