We have some new, very fascinating details regarding the contract that exists between Marvel Studios and Sony, which allows for Spider-Man to appear in the Marvel Cinematic Universe. Specifically, it's come to light that if Spider-Man: Far from Home, which officially hit theaters last week, doesn't make $1 billion at the box office, Sony regains full control of the franchise and Tom Holland's Peter Parker may no longer be a part of the MCU. While all of that seems very unlikely it does, at the very least, shed some light on the high expectations Sony has when it comes to this deal.

This comes as part of a recent report in an entertainment industry newsletter. Just as a refresher, Sony still actually owns the rights to Spider-Man and his rather large supporting cast of characters. This includes Venom, which is why the studio was able to produce last year's movie starring Tom Hardy outside of the Marvel Cinematic Universe. However, following the relative failure of The Amazing Spider-Man 2, Sony cut a deal with Marvel Studios back in 2015 that allowed for Spidey to appear in the MCU. The precise details of the contract have never been fully revealed, yet we know the deal was complex.

Eventually, Tom Holland was cast as our new Peter Parker and he made his debut in Captain America: Civil War, before getting his own solo movie with Spider-Man: Homecoming. According to the newsletter, the original deal that was struck contained a stipulation that boils down to, if Spider-Man: Far From Home clears $1 billion at the box office, Marvel Studios would get to oversee a third solo Spider-Man movie. If not, "full control would have reverted back to Sony."

Without digging into spoilers, those who have seen Spider-Man: Far From Home know that would leave us in a very interesting place. What we know for sure is the movie is absolutely crushing it at the box office and this is in almost no danger of happening, barring some sort of unforeseen catastrophe. As of this writing, the Jon Watts-directed sequel has already cleared $577 million worldwide in its first week of release, all but ensuring it will make it past that ever-important $1 billion mark. As such, it's highly likely Sony and Marvel Studios will collaborate on the inevitable Spider-Man 3.

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But what happens after that? Tom Holland previously revealed that his original contract was for three MCU movies, which he's covered with Captain America: Civil War, Infinity War and Avengers: Endgame, as well as three solo movies. Once Spider-Man 3 is completed, his contract will be up. At that point, it's possible that Sony and Marvel will have to re-negotiate for the future. Is that where Sony will play hardball in order to make a Venom crossover movie happen? For now, all we can do is wonder and speculate. Perhaps we'll learn a bit more during Marvel's presentation at San Diego Comic-Con next weekend. This news was first reported by The Ankler.

Ryan Scott at Movieweb
Ryan Scott