Sony Pictures' plan to forge ahead with its own cinematic universe comprised of Spider-Man characters the studio still holds the rights to always seemed like a strange decision, but the SSU (formerly known as SPUMC) did get off to a pretty good start with the Venom movies.
The Tom Hardy-led antihero adventures weren't particularly popular with critics, but they did perform very well at the box office, giving Sony the confidence to move forward with projects such as Morbius, Madame Web, and the upcoming Kraven the Hunter.
Morbius may not have been the hit Sony was hoping for (though it did go on to take in $170M worldwide), but Madame Web is giving the studio major cause for concern.
The movie opened on Valentine's Day to abysmal reviews (it currently sits at 13% on Rotten Tomatoes), and ended up taking in just $26.2M in North America over the course of its first six days in theaters.
“On Wednesday night, you could actually watch advance purchase sales declining in real time as buyers were refunding their tickets,” A theatrical chain insider tells THR. “It really says something when you’d rather have Shazam! 2 numbers.”
Sony was hoping Madame Web would be the start of a new franchise, but the chances of even one sequel being greenlit is somewhere between slim and none (and Slim's left town).
“I don’t know if women are enough to carry the box office here,” another source notes. “We are in transition when it comes to superhero movies. I don’t know how big that transition is or what the other side looks like. It may be fewer movies, but bigger brands. Sony is willing to take some risk but also wants home runs — that’s good. And if [Sony’s upcoming Spider-Man Universe title] Kraven is a gigantic hit, the narrative could be completely different. So it’s too early to know the outcome.”
The current mood on the Sony lot is said to be "gloomy," and with good reason. Despite previous reports placing Madame Web's budget at around $80 million, it's actually believed to be closer to "the low $100 million range."
In addition to Kraven, a third Venom movie slated for Nov. 8, 2024. These movies could well prove to be box office successes and turn things around, but if not, one has to assume that the SSU will be on its last legs.
"'Meanwhile, in another universe...'" reads the official synopsis, "In a switch from the typical genre, Madame Web tells the standalone origin story of one of Marvel publishing's most enigmatic heroines." "The suspense-driven thriller stars Dakota Johnson as Cassandra Webb, a paramedic in Manhattan who may have clairvoyant abilities. Forced to confront revelations about her past, she forges a relationship with three young women destined for powerful futures...if they can all survive a deadly present."
S.J. Clarkson, who also helmed Marvel’s Jessica Jones and The Defenders, directs from a script by Matt Sazama, Kerem Sazama and Burk Sharpless. Adam Merims executive produced.
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