Arach Knight
Your Friendly Neighborhood Spider-Girl
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What the merchandise sales show is that there is still significant interest in Spider-Man as a character and strongly suggests the reason TASM2 did relatively poorly is the same reason Batman & Robin did relatively poorly. It was a bad movie.
I am not arguing that people are disinterested in Spider-Man. The character remains popular despite three poor films in a row. I am merely arguing that Batman v Superman has the popularity of Batman to draw upon, and as a cinematic figure, Batman is a huge box office draw, as evinced by the box office performance of the Dark Knight Trilogy. Even though Spider-Man earns more licensing revenue, the last two Raimi films and the last two Webb films earned less money than the last two Batman films.
To be clear, trilogy to trilogy, The Raimi trilogy earned roughly the same amount of money as the the Dark Knight trilogy (both films generated just above $2.4 billion). The aborted Webb trilogy was on track to also clock in around $2.1-2.4 billion. But we'll never know for certain since there will be no third ASM. That said, when you look at the top 20 highest grossing films of all time, The Dark Knight Rises and the The Dark Knight are both in the top 20 (#11 and #19 respectively). No Spider-Man film appears on the list until Spider-Man 3, which hits 33rd in terms of all time grossing single films.
The Highest grossing Batman film has earned roughly $1.1 billion, where as the highest grossing Spider-Man film has earned $890 million. Even when adjusting for inflation, Spider-Man 3 has a box office take of $1.014 billion. And that is the best Spider-Man film, in terms of box office earnings. That fact suggests that despite the popularity of the character in terms of licensed goods, said dominance does not immediately transfer to cinematic dominance.
Further more, licensing revenue is a bit more unclear compared to something such as box office performance. The only factors that tinge box office comparisons is the scale of theatrical release (how many theatres and which regions) and whether or not a film was released in 3D, as 3D ticket prices are higher (this is often brought up to show how poor the Marc Webb films stack up against the Raimi trilogy, as both ASM films were released in 3D, where as the Raimi films were not, and even with that boost, the Webb films still fell short of the original trilogy).
However, when we are addressing licensing, comparing such data is not as helpful as one would initially assume. If we know the number of attempted deals, the number of contracted deals and the markets in which said deals have transpired, then the picture would be a bit more clear.
For instance, there has been a Spider-Man video game nearly every year since 2002. Batman didn't start making regular video game appearances until 2009. Prior to that, there were two Batman TAS series games on PS2 and Xbox, one all new Batman game from Kemco and nothing else until Arkham Asylum. So are we counting the fact that Batman didn't appear in as many video games as Spider-Man? Video games are a source of licensing revenue.
What about cartoons? Batman has appeared in four animated shows since 1992; the long running Batman TAS, Batman Beyond, Batman the Brave and the Bold, and The Batman. Conversely, Spider-Man appeared in five animated shows since 1994, including Spider-Man TAS, Spider-Man Unlimited, MTV's Spider-Man, Spectacular Spider-Man and Ultimate Spider-Man. Are we counting the fact that Spider-Man has had more cartoons upon which to base merchandise such a toys and shirts?
I'm not suggesting that such factors totally invalidate the fact that Spider-Man is a higher earning property as a license. Clearly, the character earns nearly three times as much money as Batman, in terms of licensing. But it is still worth noting that we don't know enough about the licensing deals for both characters. Does Spider-Man earn more because of raw popularity or because Warner Bros./DC does not seek out as many monetization options as Disney/Marvel?