As Panitch and Greenstein see it, Sony Pictures was one of the first studios to bring audiences back to the theater in mass during the pandemic. The studio opened "Venom: Let There Be Carnage" in October 2021 to a $90 million opening ($10 million more than the original "Venom" opened to in non-pandemic times) and a $506 million total worldwide (far below the original "Venom" but a strong pandemic success nonetheless). Sony's "Ghostbusters: Afterlife" followed in November with $204.4 million worldwide, and then "Spider-Man: No Way Home" earned $1.9 billion worldwide to become the third highest-grossing film in history, unadjusted for inflation.
"When we first started releasing movies last October, there were really no other big movies," Greenstein said. "Everyone had pushed their big movies to this year, to this summer. We took a big gamble putting 'Venom' in theaters. Then we doubled down with 'Ghostbusters.' Then our biggest bet was when every other tentpole had fled, we tripled down with 'Spider-Man' — our biggest, most important piece of IP."
"When we first started releasing movies last October, there were really no other big movies," Greenstein said. "Everyone had pushed their big movies to this year, to this summer. We took a big gamble putting 'Venom' in theaters. Then we doubled down with 'Ghostbusters.' Then our biggest bet was when every other tentpole had fled, we tripled down with 'Spider-Man' — our biggest, most important piece of IP."
"There's so much press about 'Top Gun' right now. It's like, 'The movie business is back!'" Panitch said. "In a weird way, I would say 'Top Gun' is benefitting from us taking our shot. 'Venom' is the start of that story that allows 'Top Gun' to do the kind of business it did. These things don't happen overnight. It's a seeding."
Thank you venom 🙏🙏🙏
Sony Boss Says Studio Deserves Some Credit for ‘Top: Gun Maverick’ Box Office: ‘Venom’ Paved the Way
Sony Pictures bosses say the studio deserves some credit for 'Top Gun: Maverick' succeeding at the box office.
variety.com