‘Morbius’ Is Sinking At The Box Office, But Sony’s Spider-Man Universe Is Still Its Most Bankable Company

Jared Leto as Michael Morbius in “Moribius.”Courtesy of Sony Pictures

  • Today, Monday, Sony announced a new Marvel movie, entitled El Muerto, starring Bad Bunny.

  • This comes with the disappointment of the studio’s release of “Morbius” at the box office.

  • But with the rights to hundreds of Spider-Man characters, Sony’s Marvel franchise is still the biggest.

In the wake of its “Morbius” release, Sony is betting on more Spider-Man characters at the box office.

The studio announced Monday during its annual CinemaCon that musician Bad Bunny will star in “El Muerto,” a new addition to its Marvel universe.

“Morbius,” in which Jared Leto played a vampire hero, is messy at the box office, but Sony’s Marvel Universe remains its most bankable franchise. It owns the movie rights to hundreds of Spider-Man characters, from allies to villains to stooges.

The studio also has “Kraven the Hunter,” “Madame Webb,” and a third “Venom” movie, along with a sequel to the animated film “Spider-Man: Into the Spider-Verse.”

“Morbius” has grossed $156 million at the global box office since its opening earlier this month, with $69 million coming from the United States.

While “Mobius” has a budget lower than most comic book films today, at $75 million, it’s still a disappointing figure compared to “Venom,” which grossed over $800 million worldwide in 2018, and its sequel, “Venom.” Let There Be Carnage that topped $500 million last year.

It exposes the potential limits of Sony’s Marvel movies at the box office, at least those that don’t include Spider-Man himself. Not all of them will be “poison”.

“Morbius” was plagued by terrible reviews prior to its release and earned 16% of critics on Rotten Tomatoes. The audience gave it a C+ score on CinemaScore, a company that polls audiences on the film’s opening night.

Without strong word of mouth, the film dropped 74% in its second weekend at the US box office.

Paul Dergarabedian, media analyst at Comscore, said Sony has at least tried to “swing in search of fences and branch beyond the most iconic characters” in the Spider-Man library, something it will do again with El Muerto. “

He said, “It will be interesting to see how the audience will receive a movie like” El Muerto “and other future projects, and what characters can break out and become the next” Venom “.

Sony is building on two things with “El Muerto”: the studio described it at CinemaCon as the first Latin American superhero Marvel movie, and Bad Bunny is an international superstar.

Spider-Man isn’t Sony’s only franchise. On Monday, it also announced a new “Ghostbusters” movie, for example. Her latest films “Jumanji” have been a huge success.

But Spider-Man is the most consistent and lucrative, with the franchise – including one co-produced with Marvel Studios – bringing in more than $3 billion combined in the US alone. The studio has a large library of characters that he can dive into at any time.

“The Marvel component of Sony’s long-term release strategy is vital to the studio’s overall success,” said Dergarabedian. “Given the overwhelming positivity at the box office and the critical response to the ‘Spider-Man’ and ‘Spider-Verse’ series, it is imperative that Sony is committed to bringing films under this popular brand to the big screen now and in the years to come.”

Sony Pictures president Tom Rothman on Monday introduced the franchise’s unacclaimed studio films — including Viola Davis starring “The Woman King” and action movie “Bullet Train” — and said he doesn’t think that’s just sequels and superheroes are the future. Cinema.

But right now, these franchise movies are making the most money, by a long shot.

Sony also noted that it has earned more than $3 billion at the global box office since last year’s CinemaCon in August, as a sign of the return of theaters. That was thanks to “Let There Be Carnage” and “Spider-Man: No Way Home,” both superhero sequels.

Read the original article on Business Insider

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