Netflix has penned a significant deal with Sony, one which will see the service become the studio’s exclusive streaming partner in a game-changing agreement.
The deal shares similarities with the one that HBO Max previously came to with Warner Bros., but films will still be receiving a theatrical release before arriving on Netflix. However, as soon as a Sony film reaches the ‘Pay One’ period of release, it will hit the streaming giant. According to a press release, the agreement will kick in from 2022, and under the deal, Netflix will obtain first pay window rights to titles following their theatrical and home entertainment windows. Sony will also offer Netflix the first refusal of any films it plans to allow on streaming services.
The press release goes on to note: “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’ rejuvenated 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 instalments of Venom and Spider-Man; 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.”
“Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement,” said Scott Stuber, Head of Global Films at Netflix. “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,” said Keith Le Goy, President, Worldwide Distribution and Networks, Sony Pictures Entertainment. “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.”
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