Netflix additional beefed up its movie catalog on Thursday in a multi-year deal that can make it the brand new streaming residence to Sony Pictures’ high releases within the U.S.
Beginning subsequent yr, Sony’s new movies will solely stream domestically on Netflix after their theatrical runs. That consists of films in in style franchises like Spider-Man, Venom and Jumanji, and 2022 releases together with Morbius, Where the Crawdads Sing, Uncharted and Bullet Train.
The settlement additionally provides Netflix a first-look choice on any movies the Culver City, California-based studio elects to ship on to streaming.
In a world of rapidly proliferating streaming companies, the deal — as soon as the sort that may have sometimes gone to premium cable networks — is an anomaly. Sony is the one conventional Hollywood studios with out a streaming service of its personal. The Walt Disney Co. has Disney+, Warner Bros. has HBO Max, Universal Pictures has Peacock and Paramount Pictures has Paramount+.
Wednesday’s deal replaces a long-running settlement between Sony and Starz. Financial phrases weren’t disclosed. During the pandemic, Sony beforehand offered to Netflix Kevin Hart’s Fatherhood, The Mitchells Vs. The Machines and Wish Dragon. It additionally despatched Greyhound to Apple TV+ and American Pickle to HBO Max.
“Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement,” mentioned Netflix international movie head Scott Stuber. “This not only allows us to bring their impressive slate of beloved film franchises and new IP to Netflix in the U.S., but it also establishes a new source of first run films for Netflix movie lovers worldwide.”
In the more and more aggressive streaming panorama, the deep-pocketed Netflix has been aggressively increasing its movie library. The streaming service plans to release multiple movie per week this yr. It additionally just lately acquired the rights to a number of “Knives Out” sequels in a deal that reportedly exceeds $450 million.’