In addition to the Marvel Cinematic Universe, Marvel Studios has also been involved with the production of other Marvel-character film franchises that have exceeded $1 billion in North American box office revenue: the X-Men and Spider-Man multi-film franchises. The Spider-Man franchise is licensed to Sony Pictures. Since 2012, Marvel Studios\' films are distributed theatrically by Walt Disney Studios Motion Pictures, having previously been distributed by Paramount Pictures from 2008 to 2011. Universal Pictures distributed The Incredible Hulk (2008) and has the right of first refusal to distribute any future Hulk films produced by Marvel Studios, while Sony Pictures distributed Spider-Man: Homecoming (2017) and Spider-Man: Far From Home (2019) and will distribute any future Spider-Man films produced in conjunction with Marvel Studios. Previously, the studio was a subsidiary of Marvel Entertainment until Disney reorganized the companies in August 2015.\n', '

Marvel Studios has released 23 films since 2008 within the Marvel Cinematic Universe, from Iron Man (2008) to Spider-Man: Far From Home (2019). These films all share continuity with each other, along with the One-Shots produced by the studio and the television shows produced by Marvel Television. Marvel Studios is also developing television series which will air on Disney+.\n', '

During what is known as Marvel\'s Timely era, Captain America was licensed out to Republic Pictures for a serial just for the free advertising. Timely failed to provide any drawing of Captain America with his shield or any further background, and Republic created a whole new background for the character, and portrayed the character using a gun.\n', '

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