Behind the Scenes:
According to Deadline, Disney asked Sony Pictures for a 50/50 split in the profits on future Spidey films between the two studios and Sony turned down that offer.
The original agreement, Marvel received 5% of first dollar gross and the rest going to Sony pictures, but Marvel (Disney) would get all of the merchandise and get to use the wall crawler in Disney theme parks globally.
Spider-man is Sony's only film franchise, after losing the James Bond franchise.
BuzzFeed News reported, that negotiations between the mouse house and Sony about Spider-man's future remain ongoing.
What's next for #Spidey:
Tom Halland is signed on for one more Spider-man film with Sony and Deadline reported that Sony is developing two more Spider-Man movies following Far From Home.