At one time, sequels were expected to have diminishing returns — but not anymore. Now, if a sequel doesn’t outgross its predecessor, it can be considered something of a failure.

Perhaps that’s why, among the 64 films released by US studios that have made $1 billion at the box office, a whopping 40 of them are direct sequels to other movies — 44 if you count “Rogue One,” “Minions,” “The Phantom Menace,” or “The Hobbit: An Unexpected Journey,” which are technically prequels.

This year alone, three sequels — “Spider-Man: Brand New Day,” “Toy Story 5,” and “The Super Mario Galaxy Movie” — have made at least $1 billion, with “Brand New Day”…