Why would anyone want to double down on the movie business right now? Specially with Paramount having so few great IPs and coming of of multiple quarters of operating losses? Everything about Paramount is bad, have you ever subscribed to Paramount+, easily the shittiest service out there and has no reason to even exist.
I really don't get, Sony Pictures is already shitty enough as it is and should focus on getting their shit together, specially when it comes to the low quality garbage they produce regularly. The only thing Sony Pictures did right in the last few year was reading the market right and not trying to launch their own garbage movie streaming service.
Morbius, Madame Web, Kraven the Hunter, how does the person that came up with this plan and the people that allowed it even have jobs? Venom movies were a equally bad idea but they seem to make money somehow.
You said it yourself. Morbius, Madame Web, and Kraven are bad ideas, but SOMEHOW Venom which was equally a bad idea made money...
The potential for Sony to make money with Spider-Man adjacent movies when Sony Pictures doesn't have a lot of legacy IP was a key opportunity for them, but it was never going to work the way they did it.
That being said Madame Web was the #1 movie on Netflix when it released.
Sony is trying to make franchise movies out of subpar IP so they can run their Netflix deal out. Once the deal expires, they'll release bigger Spider-Man movies.
Spider-Man 4 (Raimi + Maguire)
Amazing Spider-Man 3 (Garfield)
Spider-Gwen (Emma Stone)
Spider-Man Home Trilogy 2
Spider-Man Home Miles Morales
Sony is sitting on probably at least 5-6 billion dollars here, not including sequels to Spider-Gwen and Miles Morales live action and that's just in the next 10 years.
At the end of the day they don't care about making small bombs like Madame Web or Morbius. They have little to no impact on the company.
Morbius had a budget of 75-83 million dollars and it made 167 million at the box office. It came close to breaking even with the 2.5x budget formula.
Madame Web didn't have a huge marketing budget and it made back its initial budget.
None of those movies were massive failures.