According to THR, Sony just signed a multi-year exclusive first pay window licensing deal with Netflix in the US. That means following Sony’s theatrical releases, Netflix will get first dibs on streaming rights to new films.
(Sony’s 2021 releases, including Venom: Let There Be Carnage and Spider-Man: No Way Home, miss the start of the deal. But Netflix would get a shot at any further films in the franchise.)
In addition to access to Sony’s new theatrical releases, Netflix will also be able to license the rights to select titles from the Sony/Columbia Pictures catalog.
“At Sony Pictures, we produce some of the biggest blockbusters and the most creative, original films in the industry. This exciting agreement further demonstrates the importance of that content to our distribution partners as they grow their audiences and deliver the very best in entertainment,” said Keith Le Goy, Sony’s president of worldwide distribution.
The deal also includes financing from Netflix for a certain number of Sony titles, which would then stream on the platform.
“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,” said Netflix film head Scott Stuber.
The Sony/Netflix deal comes after several major studios adapted theatrical-to-streaming plans due to the COVID pandemic. Disney has premiered several films on Disney+, some with an additional Premier Access fee. Warner Bros. drops its 2021 blockbusters on HBO Max, with Paramount+ planning a similar approach.
So, does this Sony deal help alleviate some streaming service fatigue? Let us know in the comments how you feel about all these services.
Source: The Hollywood Reporter