Netflix has further beefed up its movie catalog in a multi-year deal by making a new streaming home to Sony Pictures’ top releases in the US.
Beginning next year, Sony’s new films will exclusively stream domestically on Netflix after their theatrical runs. That includes movies in popular franchises like Spider-Man, Venom, and Jumanji, and 2022 releases including Morbius, Where the Crawdads Sing, Uncharted, and Bullet Train.
The agreement also gives Netflix a first-look option on any films the Culver City, California-based studio elects to send directly to streaming. In a world of quickly proliferating streaming services, the deal once the kind that would have typically gone to premium cable networks is an anomaly. Sony is the only traditional Hollywood studio without a streaming service of its own. The Walt Disney Co. has Disney+, Warner Bros. has HBO Max, Universal Pictures has Peacock and Paramount Pictures has Paramount+.
The deal replaces a long-running agreement between Sony and Starz. Financial terms weren’t disclosed. During the pandemic, Sony previously sold to Netflix Kevin Hart’s Fatherhood, The Mitchells Vs. The Machines and Wish Dragon. It also sent Greyhound to Apple TV+ and American Pickle to HBO Max.
In the increasingly competitive streaming landscape, the deep-pocketed Netflix has been aggressively expanding its film library. The streaming service plans to release more than one film a week this year. It also recently acquired the rights to multiple “Knives Out” sequels in a deal that reportedly exceeds $450 million.’
