Netflix further bolstered its film catalog Thursday as part of a multi-year deal that will make it the new streaming site for major Sony Pictures releases in the United States.
Starting next year, Sony’s new films will be released nationally exclusively on Netflix after their theatrical releases. This includes films in popular franchises such as Spider-Man, Venom, and Jumanji, and 2022 releases including Morbius, Where the Crawdads Sing, Uncharted, and Bullet Train.
The deal also gives Netflix a first-look option on any movies the Culver City, Calif., Based studio chooses to stream directly.
In a world where streaming services are proliferating rapidly, the deal – once the type that would typically have been attributed to premium cable networks – is an anomaly. Sony is the only mainstream Hollywood studio that doesn’t have its own streaming service. 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 Netflix’s Kevin Hart’s Fatherhood, The Mitchells Vs. The Machines, and Wish Dragon. He also sent Greyhound to Apple TV + and American Pickle to HBO Max.
“Sony Pictures is a great partner and we are delighted to extend our relationship with this forward-thinking agreement,” said Scott Stuber, Global Director of Netflix Film. “This not only allows us to bring their impressive list of beloved movie franchises and new IP addresses to Netflix in the United States, but it also creates a new source of first-run movies for Netflix moviegoers around the world. “
In the increasingly competitive streaming landscape, Netflix has significantly expanded its movie library. The streaming service plans to release more than one movie per week this year. It also recently acquired the rights to several “Knives Out” sequels in a deal that is believed to have exceeded $ 450 million.
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