Netflix and Sony Pictures Entertainment (SPE) have inked a multiyear deal starting in 2022 to stream the studio’s feature films in the U.S. after their theatrical and home entertainment runs, the companies announced on Thursday.
The new agreement, which replaces an output deal the studio has had with Lionsgate’s Starz since 2006, builds upon Netflix’s pre-existing deal with Sony Pictures Animation (SPA) films and will now include all Sony film labels and genres.
Under the deal, financial terms of which were not disclosed, Netflix will obtain streaming rights to Sony titles following their theatrical and home entertainment windows, as well as a first look at any direct-to-streaming features from the studio. Tentpoles such as “Morbius,” “Uncharted,” “Where the Crawdads Sing,” and “Bullet Train” will be among the initial 2022 offerings.
They will be followed by continued entries in Sony Pictures’ slate of IP, including the sequel to Oscar-winning “Spider-Man: Into the Spider-Verse” and several more SPE films featuring Marvel characters, including future installments of “Venom” and “Spiderman;” and expected follow-ups for the “Jumanji” and “Bad Boys” franchises. Netflix will also license rights to select titles from SPE’s vast movie library.
As part of the partnership, Sony Pictures’ Motion Picture Group will offer Netflix a first look at any films it intends to make directly for streaming or decides later to license for streaming, and Netflix has committed to make a number of those films over the course of the deal.
Any such direct-to-streaming projects will be additive to SPE’s full theatrical film slate, which will continue at its current volume.
“Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement,” Scott Stuber, Head of Global Films at Netflix said in a statement to TheWrap. “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.”
“Netflix has been a terrific partner as we continue to expand our relationship,” Keith LeGoy, President, Worldwide Distribution and Networks, Sony Pictures Entertainment added. “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.”
Read original story Sony Movies to Stream on Netflix, Not Starz, in New Multiyear Film Deal At TheWrap