Spider-Man: No Way Home Could Net Sony $600+ Million as Its Most Profitable Movie Ever

Three times the Spider-Men, three times the profit. According to a new report, Sony Pictures could net more than $600 million from the record-breaking box office of Spider-Man: No Way Home. As the first $1 billion-plus film of the pandemic era — and the highest-grossing film since Star Wars: The Rise of Skywalker in December 2019 — the Sony and Marvel Studios co-production is swinging towards a record home takeaway. After crossing the milestone in just 12 days of release, the theatrical-exclusive Spidey threequel will earn a net profit of at least $242 million from its current total of $1.057 billion. 

Now on its way to topping the $1.13 billion worldwide box office of 2019's Spider-Man: Far From Home to become Sony's highest-grossing movie ever, No Way Home could ultimately web up a record profit of $610 million, according to Deadline. That number, which does not come from Sony, is based on a total projected global box office of $1.75 billion.  

When accounting for production ($200 million) and marketing costs ($248 million), participations, and home media, Deadline's box office editor Anthony D'Alessandro breaks down the projection as follows: 

After exhibition's cut of the box office, global rentals will send $825M back to Sony. Theatrical release costs are factored at $200M for production, and $248M in global [print and advertising]...These box office gross levels should trigger an additional combined global home and TV net monies (less distribution costs) of $405M. Broken out that's $135M from a very robust domestic home market including streaming, PVOD and DVD...$80M from foreign home entertainment, $25M from U.S. free TV, $35M from domestic Pay TV, and $130M from International TV.

Total revenues home plus global theatrical rentals equals $1.23 billion. Subtract all worldwide P&A, production cost, participations and residuals of $620M combined and we settle at a $610M profit.

The potential $610 million would be Sony's most profitable movie of all time, topping the take homes of 2017's Spider-Man: Homecoming ($200m), Far From Home ($339m), and Jumanji: Welcome to the Jungle ($305.7m). It's also higher than what Disney profited from Avengers: Infinity War ($500m) and Star Wars sequels The Last Jedi ($417.5m) and The Rise of Skywalker ($300m).

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As part of the new deal renegotiated by Sony and Disney-Marvel after their five-movie pact expired with Far From Home in 2019, Disney agreed to finance 25% of the budget for 25% of the profits of a third Spider-Man standalone (an estimated $152.5 million, according to Deadline's forecast). Last week, Spider-Man franchise producers Amy Pascal and Marvel's Kevin Feige confirmed the two studios are "actively developing" the story for a Spider-Man 4 in the Marvel Cinematic Universe.