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The urgency and the event that was Avatar eclipsed nearly anything that had come before. Avatar was marketed as a film that not only needed to be seen but specifically needed to be seen on an IMAX screen in 3D. The titanic success of the film, which grossed nearly $3 billion worldwide and became a major cultural touchstone, sent shockwaves through a film industry that was experiencing sagging revenues due to competition from more diverse entertainment outlets, the growth of cinematic television, the improvement of home theaters and film piracy. Meanwhile, the world of blockbuster films gained a new gold standard with the release of Avatar (Cameron, 2009) at the end of 2009. But it’s worth mentioning that Marvel Studios’ 20 superhero films have now grossed over $17 billion worldwide, so the Marvel acquisition was an incredibly lucrative deal for Disney.
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This is all to say that the full impact of Disney taking control of Marvel Studios, if any, would not be felt for some time. Marvel Studios had previously made a deal to distribute its films through Paramount Pictures, and this deal basically continued in some form up to Iron Man 3 (Black, 2013). Disney would have film rights to all of the characters under Marvel Studios, which was still growing at the time and had only released two films ( Iron Man, Favreau, 2008) and The Incredible Hulk, Letterier, 2008). Marvel had spent a decade from the mid-’90s to the mid-’00s licensing out the film rights to some of its properties, including Spider-Man to Sony Pictures and the X-Men to 20th Century Fox. This meant that everything owned and controlled by Marvel was now owned by Disney, including comic book publishing, merchandising, television properties and, of course, Marvel Studios.
The deal was approved on 31 December, and Marvel immediately became a subsidiary of Disney. On the Marvel side of things, The Walt Disney Company announced on 31 August 2009, that it intended to purchase Marvel Entertainment for $4.24 billion. The lead-up to the release of Iron Man 2 (Favreau, 2010) was an exciting time for both Marvel Entertainment and blockbuster films.