Spider-Man: Far from Home has officially joined the box office $1 billion club. The final movie in the Marvel Cinematic Universe's Phase 3 is also the third movie from Marvel Studios to cross the $1 billion mark globally this year and the 41st movie to do so overall. In addition, even before hitting the box office achievement, Far From Home was already the most successful of any of the previous Spider-Man movies. If all of that wasn't enough, the sequel is now Sony's second highest grossing movie of all time, just behind Skyfall ($1.109 billion).

Spider-Man: Far From Home was able to hit the box office milestone less than a month after hitting theaters and many predicted it would get up past $1 billion globally after it debuted. With that being said, the sequel should be able to beat Skyfall in the coming weeks to become Sony's highest grossing movie of all time. The close ties to Avengers: Endgame ended up helping out both movies in the end.

For Avengers: Endgame, Marvel Studios rereleased the movie ahead of the Spider-Man: Far From Home premiere in order to get some assistance in beating James Cameron's Avatar as the highest grossing movie of all time. The studio tacked on some bonus footage and an exclusive preview for Far From Home, which was enough to get Endgame back into the top ten with a few extra million dollars. The boost ended up helping out Far From Home because it takes place directly after the events of Endgame as we see Tom Holland's Peter Parker deal with the loss of Tony Stark. Endgame is now the highest grossing movie of all time, as of last weekend.

Related: Spider-Man: Far from Home Crushes Stuber & Crawl in 2nd Weekend with $45.3M

It has always been assumed a sequel to Spider-Man: Far From Home will be coming down the line. The new box office numbers practically guarantee it will happen now, but it was not announced as a part of the MCU's upcoming Phase 4, which seems strange. The sequel could end up in Phase 5, but that puts it pretty far out there. Regardless, Marvel Studios and Sony are probably preparing for the movie's release. After ending Phase 3, there's always the chance it could kick off Phase 5.

It's going to be interesting to see how far Spider-Man: Far From Home will go in theaters. It's still holding its own at number two after the arrival of The Lion King last weekend. However, Quentin Tarantino's Once Upon a Time in Hollywood opens this Friday, which means there will be some more competition at the box office. Then there's the release of the Fast and Furious spin-off Hobbs & Shaw, which will also probably end up crushing it. Regardless, Far From Home has had a pretty amazing box office run. The $1 billion news was first reported by Deadline.

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Kevin Burwick