‘Venom’ Helps Propel Sony’s Quarterly Profit To Great Success

Who among us could’ve predicted the massive financial haul that Venom would pull in at the box office? Be honest. Many were unsure what to predict, though you could bet your top dollar that just as many were rooting against Venom for various reasons. Wherever you landed, the first in Sony’s Marvel Universe was a spectacular success at the box office. So big, in fact, that it helped bolster Sony’s film unit to a great profit.

Based on a report from The Hollywood Reporter, Venom pulling in $855 at the global box office, combined with the continued success of Spider-Man: Into the Spider-Verse, brought Sony’s film unit to a profit of $107 million from the October to December quarter, up $93 million from the same quarter in the previous year. While the overall quarterly revenue at Sony was down 10 percent, the overall forecast of the studio’s full-year profits remained unchanged at $459 million.

While Sony had many films outside of comic-book pictures, it was ultimately the unexpected surge of interest and box office gold for Venom that put them over the top. Given how many were rooting against Venom from the start, as well as the question of how a Venom film could work without Spider-Man, it’s still a testament to how much global audiences enjoyed the film. What comic audiences may have scoffed at, the general audience- which is much larger than the comic crowd and you know it- happily lined up for Venom.

It’s part of the reason why Sony is full speed ahead with their universe, with Morbius currently in development. Quality aside, at the end of the day, these studios and businesses care about money and the bottom line. The case of Venom with Sony is no exception, and it appears that, despite its odds, the film was, in few words, a financial success. There’s no beating around the bush on that one.

With that said, what do you think Venom’s financial success will mean for Sony’s Marvel Universe going forward? Do you think Morbius can achieve similar results? Let us know your thoughts in the comments below.

Venom is available now on Digital HD, 4K, Blu-Ray, and DVD.

Source: The Hollywood Reporter