Netflix has entered into a new streaming agreement with Sony Pictures. The deal will see Netflix become the new exclusive distributor of Sony films after their traditional release in theaters and on home video. This extends to the studio's biggest franchises, such as Spider Man, and comes into effect with Sony's 2022 slate.
The exclusive multi-year license agreement for the first payment window extends to Sony theatrical releases. It is also important to note that this agreement relates specifically to streaming rights in the United States. Some of the studio's notable titles coming next year include Spider-Man: Into The Spider-Verse 2, Morbius, Unexplored and High-speed train. Scott Stuber, head of global films at Netflix, had this to say in a statement.
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"Sony Pictures is a great partner and we're excited to expand our relationship with this forward-thinking deal. It not only allows us to bring their impressive roster of beloved movie franchises and new IPs to Netflix in the US. United, but it also establishes a new source of first-run movies for Netflix moviegoers around the world. "
Another important part of the deal concerns the films that Sony intends to produce for streaming or to stream them directly to streaming. Netflix will get a first look at these films and has committed to producing several films during the recently announced deal. Keith LeGoy, president, Global Distribution and Networks at Sony Pictures Entertainment, had this to say.
"Netflix has been a tremendous partner as we continue to expand our relationship. At Sony Pictures, we produce some of the biggest blockbusters and most creative original films in the industry. This exciting deal further demonstrates the importance of this content for our distribution partners as they expand their audiences and deliver the best in entertainment. "
Financial terms of the deal were not disclosed, but it looks like a huge victory for both sides. Sony, unlike Paramount, Warner Bros. and Disney, does not have its own streaming platform. So the studio's biggest franchises, which also include Jumanji and Venom, do not currently have an exclusive streaming home. This has now changed for the foreseeable future. As for Netflix, their library can now be bolstered with desirable titles several months after the movies are released. In addition to the new movies, Netflix will also have the option to license selection rights to titles from Sony's library.
While Spider-Man: No Coming Home and Venom: May there be carnage are both set to arrive this year and are not included in the deal, future entries into Marvel franchises will be. This includes all of the other spin-offs that Sony decides to produce. This is especially important for Marvel Cinematic Universe fans who may have been hoping that Tom Holland Spider Man the films would eventually end up on Disney +. This has now been taken off the table. We'll be sure to keep you updated as more details become available. This news comes to us via The Hollywood Reporter.
Topics: Spider-man, Netflix, Streaming
