Marvel announced this week something that comic book fans have long been waiting for: Spider-Man is officially joining its cinematic universe.
Although an entity of Marvel, the film rights for Spider-Man were obtained by Sony in 1999. Up until now, Spider-Man could fight alongside the Avengers in the comics, but was not allowed to appear on screen with any Marvel canon.
According to Variety, no money exchanged hands in the deal. Sony Pictures will not receive a cut of the box-office revenue from Disney for any Marvel films that portray the web-slinger. Likewise, Marvel will not monetarily gain from a Sony produced Spider-Man film.
Both studios benefit from the partnership. Marvel gets a pivotal character for its forthcoming films and Sony gets exposure and a reboot for a new Spider-Man franchise.
"Marvel and Sony Pictures are also exploring opportunities to integrate characters from the [Marvel cinematic universe] into future Spider-Man films," Marvel said in a statement on Monday.
When "The Amazing Spider-Man 2" failed to meet box-office expectations, Sony initially pushed the third film's release date from 2016 to 2018.
Now, a new reboot of the Spider-Man franchise is slated for a 2017, one that will not star Andrew Garfield in the lead role, and will be accepted as part of the Marvel cinematic universe canon, Variety reports. It will be co-produced by Marvel Studios, but Sony will maintain final creative control as well as marketing and distribution rights.