Spider-Man is Marvel's most recognizable superhero; Tom Holland's films are firmly part of the Marvel Cinematic Universe (MCU), and Marvel Studios president Kevin Feige has played a key creative role in shaping the character's journey. So why is Sony, not Marvel, the company that profits from Spider-Man: Brand New Day?

The answer lies in a decades-old agreement that continues to define one of Hollywood's most unique studio partnerships. While Marvel created Spider-Man in the comics, Sony has long controlled the character's live-action film rights, allowing it to finance and distribute the web-slinger's standalone movies.

Here's how Sony's partnership with Marvel Studios works—and why Spider-Man: Brand New Day remains a major business opportunity for the studio.

Spider-Man was created by writer Stan Lee and artist Steve Ditko, making his comic book debut in Amazing Fantasy #15 in August 1962. More than three decades later, however, Marvel found itself in financial trouble and began licensing the live-action film rights to some of its biggest superheroes. During that period, Sony Pictures acquired the exclusive live-action film rights to Spider-Man, allowing the studio to produce and distribute films featuring the web-slinger while Marvel retained ownership of the character and its publishing rights.

The importance of those rights is reflected in the franchise's commercial success. According to Sony Pictures, Spider-Man films have generated more than $4 billion at the global box office, making the character one of the studio's most valuable assets. That is why, even after Marvel Studios launched the MCU, Sony chose to partner with Marvel rather than give up the rights. Under the landmark 2015 agreement, Marvel Studios president Kevin Feige and former Sony Pictures chief Amy Pascal joined forces to bring Tom Holland's Spider-Man into the MCU, while Sony continued to finance, distribute, and profit from the standalone films.

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When Marvel Studios launched the MCU years later, it could not simply bring Spider-Man into its interconnected universe because Sony still controlled the film rights. Instead, the two studios struck a landmark agreement that allowed Tom Holland's Peter Parker to appear alongside Marvel's biggest heroes while Sony continued releasing the standalone Spider-Man movies.

Although Marvel Studios collaborates creatively on Tom Holland's Spider-Man films, Sony remains the studio that finances and distributes Spider-Man: Brand New Day. That means Sony benefits from the movie's theatrical box office, premium format screenings, home entertainment sales, digital rentals, television licensing, and other film-related revenue streams.

Sony's investment has already paid off handsomely. Spider-Man: No Way Home grossed over $1.9 billion worldwide, making it Sony Pictures' highest-grossing film ever. While the financial terms of the current Sony-Marvel agreement remain private, the film's success demonstrates why every new Spider-Man release is one of Sony's biggest commercial events.

Marvel and Disney also benefit from the partnership, but in different ways. While Sony earns from the films themselves, Marvel continues to profit from Spider-Man merchandise and consumer products, while also strengthening the broader MCU by featuring Tom Holland's Peter Parker alongside characters like Iron Man, Doctor Strange, and the Avengers. Rather than competing over one of comics' most iconic heroes, the partnership allows both companies to benefit from Spider-Man's enduring global popularity.

As long as audiences continue turning out for Tom Holland's Spider-Man adventures, the collaboration remains one of Hollywood's most successful business arrangements. Spider-Man: Brand New Day is simply the latest example of how two competing studios continue to share one iconic superhero—and both profit from his lasting appeal.

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Do you think the Sony-Marvel partnership is the best thing to happen to Spider-Man on the big screen, or should all the rights remain with Marvel? Let us know your thoughts in the comments!