Why Spider-Man is Cool

Globally, Sony’s “Spider-Man: Brand New Day”  had the second-largest debut ever. Also a domestic record-setter, the film generated $360 million during its first weekend:

We know that Spider-Man is the superhero bringing huge revenue to Sony and movie theaters through ticket sales and Marvel, owned by Disney, sells us the Spider-Man merchandise.

But there is a hidden hero. The one reason we can have a summer blockbuster is air conditioning.

Summer Blockbusters

Air Conditioning

1880

Our story begins during May 1880 when New York City had a freak heat wave. With temperatures topping 90 degrees, ticket holders for the 100th performance of a play called Hazel Kirke were dreading a sweltering performance. To their surprise, the temperature indoors was 70 degrees because of a $10,000 (close to $230,000 in today’s dollars) state-of-the-art cooling apparatus. Once word of the icy air spread, crowds rushed to see the play.

Fast forward to 1902.

The place is a Brooklyn publishing and lithography firm. Known for their high quality color printing, they were having humidity problems. On hot summer days the paper crinkled and the alignment shifted. Sometimes it was so bad that they had to shut down. Then though they hired an experimental engineer named Willis Carrier. He developed a mechanical air conditioning system and the rest of the story is history.

And finally, 1925

Opening its Rivoli Theater in Times Square on Memorial Day, Paramount wanted to see the impact of its new, experimental air conditioning system. After the show, the president of Paramount simply said, “Yes, the people are going to like it.”  By 1930, he had installed AC in 300 U.S. theaters.

A Summer Blockbuster

But it took until 1975, for Jaws to become the first summer blockbuster. For a smile and some terror, do take a look at this excerpt. It is a classic:

Our Bottom Line: Private and Social Return

Long ago, Edwin Mansfield (1930-1997), a University of Pennsylvania economist, said that a seemingly small technological innovation can have a large impact through its private and social return. While he was referring to inputs like a new kind of thread, air conditioning is the perfect example. The private return might go to Carrier Air Conditioning Company of America and other early producers. But then, shown by the movie industry, a ripple of considerable social benefit unfolds when the spread of AC generates more creativity, pleasure, and the summer blockbuster. (We even wound up with $80 movie theater popcorn buckets.)

My sources and more: WSJ, here and here, and CNBC told us all we need to know about the Spider-Man brand and its new movie. Then, we returned to this 99% Invisible podcast and this history of air conditioning.

Please note that sections of this post were previously published at econlife.