In 1992, Madonna had a role in A League of Their Own as Mae Mordabito, a baseball player on an all-women's team. She recorded the film's theme song, "This Used to Be My Playground", which became a Hot 100 number one hit.The same year, she founded her own entertainment company, Maverick, consisting of a record company (Maverick Records), a film production company (Maverick Films), and associated music publishing, television broadcasting, book publishing and merchandising divisions. The deal was a joint venture with Time Warner and paid Madonna an advance of $60 million. It gave her 20% royalties from the music proceedings, one of the highest rates in the industry, equaled at that time only by Michael Jackson's royalty rate established a year earlier with Sony. The first release from the venture was Madonna's book, entitled Sex. It consisted of sexually provocative and explicit images, photographed by Steven Meisel. The book caused strong negative reaction from the media and the general public, but sold 1.5 million copies at $50 each in a matter of days. At the same time she released her fifth studio album, Erotica, which debuted at number two on the Billboard 200. Its title track peaked at number three on the Billboard Hot 100. Erotica also produced five further singles: "Deeper and Deeper", "Bad Girl", "Fever", "Rain" and "Bye Bye Baby".
The provocative imagery that was her trademark continued in the 1990s with the erotic thriller Body of Evidence, a film which contained scenes of sadomasochism and bondage. It was poorly received by critics. She also starred in the film Dangerous Game, which was released straight to video in North America. The New York Times described the film as "angry and painful, and the pain feels real."In October 1993, she embarked on The Girlie Show World Tour, in which she dressed as a whip-cracking dominatrix surrounded by topless dancers. The show faced negative reaction, specifically in Puerto Rico where she rubbed the island's flag between her legs on stage.The same year, she appeared as a guest on the Late Show with David Letterman, using profanity that was required to be censored on television and handing Letterman a pair of her underwear and asking him to smell it. The releases of her sexually explicit films, albums and book, and the aggressive appearance on Letterman all made critics question Madonna as a sexual renegade. She faced strong negative publicity from critics and fans, who commented that "she had gone too far" and that her career was over.
According to biographer J. Randy Taraborrelli, the ballad "I'll Remember" (1994), was an attempt to tone down her provocative image. The song was recorded for Alek Keshishian's film With Honors. She made a subdued appearance with Letterman at an awards show and appeared on The Tonight Show with Jay Leno after realizing that she needed to change her musical direction in order to sustain her popularity. With her sixth studio album, Bedtime Stories (1994), Madonna employed a softer image to reconnect with the general public. The album debuted at number three on the Billboard 200 and produced four singles, including "Secret" and "Take a Bow", the latter topping the Hot 100 for seven weeks. At the same time, she became romantically involved with fitness trainer Carlos Leon. Something to Remember, a collection of ballads, was released in May 1995. The album featured three new songs: "You'll See", "One More Chance", and a cover of Marvin Gaye's "I Want You". In later years, Madonna commented that she was very fond of the albums between Like a Prayer and Something to Remember, "though I would agree that all of these albums were watershed moments for me".

—Madonna talking about Evita and her role as Eva Peron.
