Paramount Pictures’ Transformers: Age Of Extinction has become the second in the sci-fi franchise to reach the global mark after Dark Of The Moon did so in 2011.

Age Of Extinction currently ranks as the 18th biggest worldwide release of all time and stands at $1.005bn, of which $763.8m comes from international markets and the $241.2m balance from North America.

In China alone the film has generated more than $300m, making it the biggest release of all time in the territory.

“Time and again, Michael has delivered pictures that audiences around the globe truly love,” said Paramount chairman and CEO Brad Grey. “Along with the immensely talented and versatile Mark Wahlberg, the great Steven Spielberg as executive producer, and a superb cast, he created a powerful re-launch of this franchise.

“This tremendous accomplishment – to be the first film of 2014 to earn over $1bn at the box office – proves once again that Michael is a world-class film-maker at the top of his game. We are proud to have expanded our relationship with him and that he will continue to make Paramount his home for years to come.”

The first Transformers film opened in 2007 and went on to gross $709.7m worldwide. Revenge Of The Fallen in 2009 finished on $836.3m, while Dark Of The Moon on $1.12bn ranks as the seventh biggest release in history.

Last week the studio announced a three-year deal extension with Bay and his production company Platinum Dunes, expanding the first-look agreement to cover Bay Films.