The Amazing Spider-Man has earned an estimated $7.5 million on its Monday midnight showing. It got the second best-showing this summer behind The Avengers which grossed a whopping $18.7 million although got on par with Iron Man 2 for $7.5 million and gained identical figures with Spider-Man 3’s first weekend haul of May 2007.

“It’s a great handoff,” an insider from Sony said, after the film matched the midnight earnings of Spider-Man 3.

The reboot of the web-slinging superhero is off to a strong start at the box office and is expected to gross $27 million come 4^th of July holiday.

Analysts predict it will dominate the box office until The Dark Knight Rises opens on July 20.

Directed by Marc Webb, the reboot got rave reviews with some critics calling it the best Spider-Man movie yet.

A sequel to the movie has already been announced for a May 2014 release.