Netflix reportedly paid more than $1 billion for the right to stream all the new Sony movies from 2022-26. And so far, it looks like Netflix overpaid by a mile. We’ll detail the lackluster output in a moment, but first, let’s focus on the next Sony bomb on its way. Behold the trailer for “Madame Web.”

Yes, this actually includes a real human saying, “He was in the Amazon with my Mom when she was researching spiders right before she died.”

On your internet forum of choice, you’ll find unanimous scorn about this trailer. It’s a level of mockery we haven’t seen since the trailers for “Cats” or the terrifying first version of the “Sonic the Hedgehog” teaser. In an era of overwhelming superhero fatigue, “Madame Web” almost looks like it was made to out-flop “The Flash.”

While this certainly seems like a “Morbius”-level red flag for Sony, the news is even worse for Netflix. As Sony pumps out a seemingly endless series of disappointments, they get paid either way. Let’s take a look at each of the Sony films to come to Netflix. Most of these are probably not what Netflix had in mind when they wrote the check. Of this list, only the “Spider-Verse” sequel qualifies as an outright hit.

If you think Sony’s upcoming slate will buoy Netflix, we’re skeptical. “Ghostbusters: Frozen Empire” should be a moderate hit. Kids may enjoy “The Garfield Movie” and “Harold and the Purple Crayon.” Beyond “Madame Web,” we don’t expect much from other Spider-adjacent projects “Kraven the Hunter” and “Venom 3.” Perhaps only “Spider-Man: Beyond the Spider-Verse” will be a true smash hit.

Complicating all of this, Netflix threw down their sack of cash without knowing we’d see this year’s writers’ strike (148 days) and SAG-AFTRA strike (118 days). That’s time Netflix paid for. The deal with Sony is five years, no matter how many or how few films get produced.

It’s been nearly 16 months since the first title made its way through the Sony-to-Netflix pipeline. We’re now more than a quarter of the way through the deal. Does this list of movies look like it’s worth $250 million? How do you think Netflix is reacting to the “Madame Web” trailer today?