“Spider-Man: No Way Home” Crosses $1 Billion At Global Box Office

Here’s something you probably haven’t heard in a while. A movie, released exclusively in theaters, passes $1 Billion at the world wide box office. And that film is the latest in the Tom Holland Spider-Man Trilogy, Spider-Man: No Way Home. A film that celebrates not only the history of the character, but also *Spoilers* celebrates the history of the past 19 years of Spider-Man movies with the inclusion of the Sam Raimi Spider-Man series and the Marc Webb Spider-Man series.

The film reached the $1 Billion mark in less than two weeks during the Christmas Season. It is the first film to reach this goal ever since 2019’s Star Wars: The Rise of Skywalker.

The achievement was shared on the official @SpiderManMovie account on Twitter:

Thanks to the fans for supporting #SpiderManNoWayHome, which crossed $1 BILLION at the global box office after just 12 days! pic.twitter.com/HWOnN9xR4y

— Spider-Man Movie (@SpiderManMovie) December 26, 2021

For a while now people have been seeing movie theaters as a dying breed, and ever since the COVID-19 Pandemic hit that thought has seemingly been amplified with movies making less money and going straight to streaming. But recently companies like SONY have been releasing films that are making profit. Venom: Let There Be Carnage released in early October brining in $500 Million on a $110 Million and Ghostbusters: Afterlife making nearly $180 Million on a $75 Million Budget, And none of these films released on streaming services or Video-on-Demand until a later date. 

One handicap seen affecting recent films from Disney and Warner Bros. is the concept of a simultaneous release in theaters and on streaming. Disney usually charges a $30 fee (which apparently hasn’t been very popular) while HBO Max gives you new releases for free. So why go to the theater to see the film when you can watch it on your TV or laptop or phone? If you don’t give people the option for alternatives, and make a film that has mass appeal, then you are sure to being people back to the theaters, something that SONY figured out with this recent film. Hopefully more studios will see that theaters can still make money if they actually put effort into a project.

Source: Business Insider