Hollywood execs continue to scratch their heads over the unprecedented success of “Spider-Man: No Way Home.” The superhero flick was bound to do well thanks to the subject matter; who doesn’t love an action movie? But even the most optimistic industry experts are shocked over just how much cash “Spider-Man” has raked in so far.
As of Monday, the movie had earned close to $300 million. This massive success came during an ongoing pandemic and, most recently, the spike of the Omicron variant which led to more restrictions on leisure activities and more people opting to stay home. Plus, “Spider-Man” stuck with a theatrical release with no streaming component.
The Hollywood Reporter called the movie’s popularity a “mixed blessing of sorts.” While it did bode well for future movie releases in a post-pandemic world, at least one analyst claims it will increase the divide between superhero movies and every other genre.
“This is very much a one movie marketplace as ‘Spider-Man: No Way Home’ operating in an alternative multi-verse where concerns over COVID don’t exist, is for now leaving the box-office crumbs for all the other movies to share,” Comscore’s Paul Dergarabedian told the publication.
For context, those crumbs are a very small percentage of total movie revenue. “No Way Home” dominated the box office opening weekend, accounting for 92% of all revenue. Comparing that to another smash hit like “Avengers: Endgame” which took 88% or “Star Wars: The Rise of Skywalker” which had 70% gives a true picture of how extreme these results truly are.
“No Way Home” was then compared to contemporary releases including “Nightmare Alley” and “West Side Story,” which performed below expectations and leagues behind the new “Spider-Man” installment.
As of Monday, “No Way Home” continued to account for the lion’s share of total revenue with 90%. “Is that a healthy marketplace? No,” a source told THR. “There needs to be more depth in the marketplace.”
While the new “Spider-Man” keeps dominating, film industry experts have a close eye on upcoming releases including “Sing 2,” “The Matrix: Resurrections,” and “The King’s Man.” None are likely to come close to the success of “No Way Home” though.
Besides just being a superhero movie, “No Way Home” has been heralded as being a film for the fans that’s lacking an overt political agenda.
The Observer called it, “An overflowing, funnel-web cornucopia of treats for Spider-fans.” Meanwhile, a ReelViews critic said, “As superhero movies go, this one offers its share of satisfying moments and is guaranteed to warm the heart of any Spider-Man movie fan, regardless of when their fandom started.”
The reviewer at Breitbart took a blunt approach. John Nolte said, “Newsflash: If you make a decent movie that seeks to entertain and move — instead of lecture and shame — we will show up.”
He continued: “‘Spider-Man: No Way Home’ does precisely that. You will not only have a great time at the movies again, but there’s no gay, transsexual, or racial nonsense. This movie is about only one thing: Delivering the goods.”