After contract disputes over the summer, Sony Pictures and Walt Disney Studios have teamed up again for at least two more Spider-Man films in the Marvel Cinematic Universe (MCU), they announced in a press release Friday, Sept. 27.
The third Spider-Man film, starring Tom Holland, will be produced by Marvel Studios and is slated to release July 16, 2021.
Following the $1 billion success of “Spider-Man: Far From Home,” Disney attempted to renegotiate their deal for Spider-Man over the summer.
In 1999, Marvel sold Spider-Man to Sony for $7 million, allowing Sony to produce the Sam Raimi trilogy, and eventually The Amazing Spider-Man reboot in 2012. Before Disney acquired Marvel in 2009, the television rights were returned to Marvel. Marvel also bought the merchandising rights for Spider-Man from Sony in 2012, allowing them to receive profits for the merchandise of the character.
A deal between Disney and Marvel was struck in 2015 that allowed Disney and Sony to share the Spider-Man rights; Disney would keep the profits, while Sony would produce the movies.
Through the summer, fans held out for a miracle for Tom Holland and Spider-Man to return to the MCU. There were reports of a 50-50 split, with Marvel helping to pay for future Spider-Man productions while keeping him in the Marvel Cinematic Universe, and reports suggesting Marvel wanted a 25-75 split of the profits.
Now, fans are relieved that the brands are back together and are looking forward to at least two more Marvel Spider-Man films.
“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,” Marvel Studios President Kevin Feige said in a statement.
Illustration by Kara-Jo Barger