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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Business»‘Spider-Man: No Way Home’ becomes the First Movie to Hit $1 Billion in the Pandemic Era
    SPIDER-MAN: NO WAY HOME BECOMES THE FIRST MOVIE TO HIT $1 BILLION IN THE PANDEMIC ERA

    ‘Spider-Man: No Way Home’ becomes the First Movie to Hit $1 Billion in the Pandemic Era

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    By Oluwasegun Olukotun on December 28, 2021 Business, Entertainment, Movies

    The latest installment of the web-spinning Spiderman franchise, Spider-Man: No Way Home has earned over $1 billion breaking a worldwide box office record for 2021.

    The movie is a 2021 American superhero film based on the Marvel Comics character Spider-Man, co-produced by Columbia Pictures and Marvel Studios and distributed by Sony Pictures Releasing.

    It is the sequel to Spider-Man: Homecoming (2017) and Spider-Man: Far From Home (2019), and the 27th film in the Marvel Cinematic Universe (MCU). The film is directed by Jon Watts and written by Chris McKenna and Erik Sommers.

    Featuring a star-studded cast to include Tom Holland, Zendaya, Jamie Foxx, Willem Dafoe among others, the movie is becoming one of the biggest release in Hollywood history only behind Avengers: Endgame.

    Reports have it that the movie has reached $1.05 billion at the global box office over the Christmas weekend, beating out “The Battle of Lake Changjin,” a Chinese film released in November that has garnered $904.9 million worldwide.

    Worthy of note is the fact that it would be the first theatrical release during the Covid-19 pandemic to join the billion-dollar club.

    It made $29.3 million in the United States last week Thursday alone, adding a gross profit of $385.8 million in 7 days, making it the third-highest collection of earnings in a week of all time.

    Speaking on this feat, Paul Dergarabedian, senior media analyst at Comscore said, “Spider-Man: No Way Home’s’ sprint to $1 billion within the context of this still pandemically-challenged marketplace is nothing short of astonishing.

    “It demonstrates the power of a great movie to draw fans around the world to enjoy the shared and communal experience that only the movie theater can provide.”

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    Oluwasegun Olukotun

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