Movie theaters have been bending over backwards to convince viewers to return to in-person cinemas. Despite huge ad campaigns and high-profile blockbusters like West Side Story and House of Gucci, ticket sales just haven’t skyrocketed the way movie theaters hoped they would after being allowed to re-open. However, the latest Marvel film Spider-Man: No Way Home could be set to revitalize the moviegoing industry.
Production companies Sony and Marvel Studios have been crossing their fingers in the hope that Spider-Man: No Way Home convinces audiences to make the trek to their local theater. With many films experimenting with hybrid releases in theaters and on streaming services, overall profit margins have been less than impressive. Luckily, the Spider-Man sequel is set to make a killing at the box office - at least, if the industry projections are anything to go by.
Deadline reported that Spider-Man: No Way Home is on track to make $290 million on its opening weekend. This number is a global gross, as opposed to a domestic figure. In the United States and Canada markets, Sony is projecting an opening weekend gross of at least $130 million, although other tracking services have estimated that number to exceed $175 or even $200 million. Deadline proposes that this discrepancy is due to the fact that Spider-Man: No Way Home is the largest film release in recent post-pandemic history. It will join the ranks of previous holiday blockbusters like Star Wars: The Last Jedi, which made $220 million, and Star Wars: Rogue One, which raked in $155 million.
The stratospheric projections for Spider-Man: No Way Home can also be attributed to a high amount of pre-sale tickets. According to Deadline, advance ticket sales for the film have outpaced even the likes of Star Wars: The Rise of Skywalker, and are close behind pre-sales for Avengers: Endgame, which currently holds the record for the largest domestic opening figures for any film ever (a whopping $357 million).
It’s also worth mentioning that the estimated $290 million profits for No Way Home err on the side of caution. That number is shaping up to be a global minimum. Depending on the whims of moviegoers worldwide, that amount could be boosted to $380 million - making No Way Home the largest post-pandemic film. It would also dethrone Sam Raimi’s Spider-Man 3 as Sony’s biggest opening weekend. Far From Home, the previous installment in Marvel’s Spider-Man trilogy, became Sony’s highest grossing film of all time.
While no one can predict the future, the odds for Spider-Man: No Way Home are definitely in Sony’s favor. The film is slated for an American theatrical release on December 17, while Marvel fans in the United Kingdom only have to wait until December 16. Tom Holland and Zendaya will reprise their roles as Peter Parker and MJ, respectively. The film will also feature Alfred Molina as Doc Ock, Jamie Foxx as Electro, and Benedict Cumberbatch as Doctor Strange.
