Netflix further beefed up its movie catalog on Thursday in a multi-year deal that will make it the new streaming home for Sony Pictures’ major U.S. releases.
Starting next year, new Sony movies will stream exclusively domestically on Netflix after their theatrical performances. That includes movies from popular franchises like Spider-Man, Venom, and Jumanji, and 2022 releases that include Morbius, Where the Crawdads Sing, Uncharted, and Bullet Train.
The deal also gives Netflix a first-look option on any movie that the Culver City, California-based studio chooses to send directly to stream.
In a world of rapidly proliferating streaming services, the deal, which once would have gone to premium cable networks, is an anomaly. Sony is the only traditional Hollywood studio without a streaming service of its own. 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-standing deal between Sony and Starz. Financial terms were not disclosed. During the pandemic, Sony previously sold Kevin Hart Fatherhood, The Mitchells Vs. The Machines, and Wish Dragon to Netflix. He also sent Greyhound to Apple TV + and American Pickle to HBO Max.
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“Sony Pictures is a great partner and we are delighted to expand our relationship through this forward-thinking agreement,” said Netflix Global Film Director Scott Stuber. “This not only allows us to bring their impressive list of beloved film franchises and new IP to Netflix in the US, but also establishes a new source of first-run movies for Netflix movie lovers around the world.”
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In the increasingly competitive landscape of streaming, Netflix, which has deep pockets, has been aggressively expanding its movie library. The streaming service plans to release more than one movie a week this year. It also recently acquired the rights to multiple sequels to Knives Out in a deal reportedly topping $ 450 million.