‘The Amazing Spider-Man 2’ Plummeted Over the Weekend. How Bad Is That for Sony?

The Amazing Spider-Man 2 isn't putting up the spectacular numbers Sony (NYSE: SNE  ) Pictures executives were hoping to see.

Box Office Mojo reports that The Amazing Spider-Man 2 earned an estimated $37.2 million is U.S. theaters over the weekend, upping its domestic haul to $147.9 million overall. Worldwide, the Spidey sequel has grossed $550.9 million to date. A good figure, to be sure, but also a far cry from what its predecessor earned in a less competitive summer movie season. Catching up won't be easy.

Two monsters of the cinema are coming your way soon: Legendary's Godzilla on May 16 and Michael Fassbender as the mutant malcontent Magneto in X-Men: Days of Future Past on May 23. Credits: Twenty-First Century Fox and Legendary Pictures.

A big bet that isn't paying off ... yet
How bad is it for Sony? I've got some figures comparing The Amazing Spider-Man and The Amazing Spider-Man 2 in the table below. Before we get to that, it's worth noting that the studio has bet on much more than a $250 million sequel.

"We are expanding the Spider-Man universe into The Sinister Six and Venom, so that we have Spider-Man movies every year," Sony Pictures Entertainment co-chair Amy Pascal said in March.

That won't be easy to pull off, especially if the Wall Crawler's newer movies can't deliver as well as Sam Raimi's trilogy from a decade ago. The Amazing Spider-Man still ranks as the lowest grosser in franchise history, and it still may outperform The Amazing Spider-Man 2. Have a look at the scorecard:

Metric
The Amazing Spider-Man
The Amazing Spider-Man 2

Release date

July 3, 2012

May 2, 2014

Worldwide gross
(first 4 weeks)

$602.6 million

$550.9 million (estimated)

Production budget

$230 million

$250 million (estimated)

Est. marketing and distribution

$75 million

$80 million

Est. box office break-even

$610 million

$660 million

CinemaScore / Rotten Tomatoes

A- / 78% (audiences)

B+ / 73% (audiences)

Sources: Box Office Mojo, BoxOffice.com, Entertainment Weekly, Rotten Tomatoes.

A web of profits still likely
Where does this leave Sony investors? Probably wondering if Pascal's franchise ambitions are as realistic as they seemed only a few months ago.

My guess is nothing has changed. Even if The Amazing Spider-Man 2 fails to match its predecessor's $752 million in worldwide grosses, the film is still likely to be box office profitable by the end of its run. Mix in DVD, Blu-ray, and digital sales and the numbers start to look even better.

So even if Spidey gets stomped when Godzilla enters theaters -- and then promptly forgotten when X-Men: Days of Future Past shows up a week later -- chances are the Wall Crawler and his enemies are still well positioned to bring years of profits to Sony shareholders.

Now it's your turn to weigh in. Have you seen The Amazing Spider-Man 2? What do you think of Sony's chances to use the film's villains to help grow the franchise? Leave your take below, including whether you would buy, sell, or short Sony stock at current prices.

The Amazing Spider-Man 2 should still succeed even if it fails to earn more than its predecessor. Credit: Sony Pictures.

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Read/Post Comments (9) | Recommend This Article (1)

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  • Report this Comment On May 12, 2014, at 10:44 PM, cypress555 wrote:

    its not really a surprise, in fact the only thing im surprised of is how it did so good the first weekend

  • Report this Comment On May 12, 2014, at 10:56 PM, sai99shadow wrote:

    it did good the first week because it opened overseas first. i probably like a lot of people saw comments and read reviews about how bad it was but still went and saw it. afterwards i promptly told everyone i know to avoid it as it was a movie with two purposes: to show Peter and Gwen's relationship before they killed her and as a sort of prequel to the Sinister Six movie. Really was a waste of money and I'm a die hard Spider-Man fan

  • Report this Comment On May 12, 2014, at 11:39 PM, Droppo wrote:

    Wait... first the article says that it has already made a lot of money and is still going along slowly forward making more. Then it says "How bad is this for Sony?" What the hell is this article even about? They made a lot of money. Not as much as another movie they made previously, but SO WHAT? Dear God, is a movie a failure if it makes a ton of money but doesn't INCREASE over the previous version? Is an increase the only thing that matters in the business world these days?

  • Report this Comment On May 12, 2014, at 11:54 PM, SuntanIronMan wrote:

    @Droppo

    If less people are interested in watching a franchise of movies that you are making big bets on, that's kind of important. Especially important if this movie specifically is the jumping off point for multiple spin-offs.

  • Report this Comment On May 13, 2014, at 4:25 AM, Tromills wrote:

    Ok, here is my honest opinion of the movie. It is not a bad movie, it is actually an enjoyable movie, but, the marketing campaing killed this movie.

    Look at Mama, it was made for $15 million and made $146.4 million at the box office. It did not have a big marketing campaign and relied mostly on word of mouth and it worked perfectly!!

    Now the here comes the marketing for Amazing Spiderman 2, costing $80 million (which is just insane) and for their money, they just got a whole lot of pissed off viewers.

    I saw the first Amazing Spiderman in the cinema twice, because there was a lot of cool things in the movie and i wanted to see it again.

    If a movie realy is cinema worthy, i will go see it 2 or 3 times, and that is how the movie studios make thier money, with repeat viewings.

    The marketing for this movie kicked off with a huge trailer, i watched it and was blown away and i couldnt wait to see it. Then they started releasing trailer after trailer after trailer, then they started releasing tv spot after tv spot after tv. and it was overwhelming, it was too much.

    Like a fool i followed all the marketing for this movie, because i though that if they show so much in the trailers, what did they keep out, and i was so excited to find out.

    So i watched all the trailers, i watched all the tv spots, read all the news articles, saw all the photos and the moment the movie kicked off i was very excited to see what they left out, and was i dissapointed!!!!

    Each and every action scene have been covered in the trailers

    Almost 95% of everything the Rhino does is covered int he trailers

    Almost 90% of everything the Goblin does is covered in the trailers

    The death of gwen is covered almost 95% in the trailers, the only thing we did not see was the moment she hit the ground and spidey crying.

    We saw the train comming out from the ground, so it was no suprise, because we already seen it and the fact that it was a lab.

    I was sitting and watching the movie and thinking to myself constantly, I saw that, I saw that, i already knew that, that was not a suprised and then i stared wishing the end of the movie will just come so i can leave.

    All the excitment of the movie was destroyed by this massive marketing, because it felt like I already saw the movie. It was annoying and just plain aaaaaggghhhhh!!!

    I know people will ask why did i watch all the trailer? Well, trailers should be designed to get your attention, to pull you to the cinema, to entice your excitment, so that you go to the cinema and be blown away, not to sit there and wanting to go home!!

    If they kept the Rhino and Goblin secret, if they did not mention them, not show everything they do in the movie in the trailer, people would have sat in the cinema, saw the 2 characters, started to tell their friends that they MUST see this movie, more people will go see it, and they would have pulled more viewers.

    Word of mouth is more inportant than ever with the internet.

    I read a lot of comments on different sites where people said that if you saw all the trailers, you basically saw the whole movie and that there is no secrets left to discover in the movie, so people took their friend word by heart and avoided the movie.

    I promise you, if the marketing was handled better, and they told people that there was more to discover in the movie, people would have flocked to the cinema. I would have seen it 3 times by now, but with this horrible marketing i have seen it once and i will not see it again.

    I have learned one thing from this marketing, if you see the first trailer of a movie and you like it, avoid all other trailers and tv spots from the movie, because marketing people these days believe that you should give away as much details as possible before the movie comes out.

    I can see the viewing of trailers will be high on the first trailer and then have a huge drop in viewing there after.

    Because the marketing ruined my experience of this movie, i will give it 2 out of 10

  • Report this Comment On May 13, 2014, at 7:12 AM, leobowdyo1 wrote:

    Let's face facts...alot of female driven movies have done well at the box office...so it is understandable if the writers/producers tweeked the storyline to get the female audience. But one movie reviewer called spiderman 2 a" twilight clone"...

    Which means no dude is gonna want to see it...and it could mean the death of a franchise.

    oh and only an idiot would try to build a franchise based on the villians

  • Report this Comment On May 13, 2014, at 7:43 AM, bnb25 wrote:

    I can tell you the reasons it's a bomb.

    The actor and how they portray the character.

    The actor is an ugly skinny kid. He's not believable as a super hero.

    The character is a jerk, he acts more like a villain than a hero..

  • Report this Comment On May 13, 2014, at 9:41 AM, Rwhawk wrote:

    Ok, here's the reason the new spidey movies suck!!!! The actor playing Peter Parker is the ugliest kid I've ever seen!!! He has a huge underbite and his character acts like a love struck nerd who can't make his mind up about anything regarding his girlfriend!! And since when does spiderman need the help of some chick to fight villains?! New writers please!!!! This was two hours of shear torture!!! The only reason I went to see it is because my wife wanted to go to the movies for mothers day and I let her choose! And how many times do I have to see the reincarnation of the green goblin and his wimpy emotionally unstable girly son ??? Since the green goblin won't stay dead, somebody please kill me before the next spiderman movie is made... Please!!! These are not action packed movies!!! These are love stories!!! Who directed this??? Tyler perry??? This movie was awful!!!! I wanted to walk out and sneak into the captain America flick so bad!!!! I don't care if the next spiderman movie makes 10 billion dollars!!! You've lost me forever... Note to producers... Watch the 60's cartoon... Make spidey less emotionally insecure, get an actor who isnt so ugly and skinny, let the villains have a better reason for hating spidey.... And let's leave all the love scenes where they belong!!! In the Tyler perry flicks!!! This movie sucks big time!!! I'm done with spiderman and sticking with the avengers!!!!

  • Report this Comment On May 13, 2014, at 12:46 PM, M1k3G wrote:

    All I can say is, bad directing, bad casting, lousy plot. The movie is geared to the under 12's who won't question the movie, don't care if it makes sense and defies belief in too many key scenes. If your target is just someone that wants to enjoy his popcorn, enjoy Spidey's idiotic humor, and enjoy the effects (which weren't bad), you're ok. If your target market however, has been spoiled by the Avenger, Iron Man and other comic inspired movies, you're out of luck

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