Breaking news reports from Deadline revealed that Marvel Studios president Kevin Feige will no longer produce any Spider-Man films, and that Tom Holland’s Spider-Man will no longer be a part of the Marvel Cinematic Universe.
Spider-Man’s departure comes because Sony and Disney were unable to reach a new deal on the films. Sony has owned the rights to Spider-Man since the late 1990’s. Until the most recent iteration of Spider-Man starring Tom Holland, Spider-Man has existed in its own universe. But in 2015, when Spider-Man: Homecoming was released, Spidey officially joined the MCU gang alongside the Avengers, Tony Stark, and Captain America among others.
But when both major studios came to the table to renegotiate the terms of their deal for future films in the MCU, of which two more have been confirmed, both Disney and Sony failed to reach new terms that would have given both film studios a financial stake in the films and given Disney the access to keep Spider-Man as a character in the Marvel Cinematic Universe for lucrative films going forward.
Apparently, the problems all came down to the dollar signs: Disney wanted to join a 50/50 co-financing agreement with Sony. Sony didn’t take the deal and, according to Deadline, didn’t even return to the table for further re-negotiations. Sony wanted to keep its original licensing agreement — Marvel currently gets about 5 percent of first dollar gross.
This news is particularly shocking given the performance of Spider-Man: Far From Home at the box office this summer. One of the true box office standouts in a summer marked by flops, Far From Home grossed more than one billion. It is Sony’s most successful film ever to date at the box office, and now, Sony is walking away from keeping Spider-Man on Marvel’s team. What this means for future films is unclear, but don’t expect Spider-Man to lead the new Avengers. He might be teaming up with Tom Hardy’s Venom instead.