Sony & Netflix Ink First-Pay Streaming Licensing Deal

Sony & Netflix Ink First-Pay Streaming Licensing Deal

Sony & Netflix ink first-pay streaming licensing deal

Sony Pictures Entertainment and Netflix are expanding their partnership as the studio and streaming platform have announced a new multi-year deal offering the latter an exclusive first-pay window to license any theatrically-released film for streaming beginning with their 2022 film slate. The deal builds upon the previous deal the two had for all Sony Pictures Animation films, beginning with The Mitchells vs. The Machines.

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“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. “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.”

Under the deal, Netflix will obtain first pay window rights to titles following their theatrical and home entertainment windows, with tentpoles such as Morbius, Uncharted, Where the Crawdads Sing and Bullet Train among the first offerings in next year’s schedule. Those titles will be followed by other entries in Sony Pictures’ rejuvenated slate of IP, including the sequel to Oscar-winning Spider-Man: Into the Spider-Verse and other Sony Marvel films, namely future Venom and Spider-Man sequels, and expected follow-ups for the Jumanji and Bad Boys franchises.

“Netflix has been a terrific partner as we continue to expand our relationship,” Keith Le Goy, President, Worldwide Distribution and Networks, Sony Pictures Entertainment., said in a statement. “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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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 added on to Sony’s full theatrical film slate, which is expected to continue at its current volume.