The two big companies just announced a new 5-years-deal that gives Netflix exclusive rights to Sony Pictures upcoming theatrical releases of 2022. As Sony will be taking about $1 billion from the deal, the streaming giant will have exclusive streaming rights to all Sony’s upcoming movies including the next installment of the Spider-Man franchise and more.
Netflix and Sony Pictures Entertainment just announced a multi-year, exclusive first pay window licensing deal for theatrically released Sony‘s feature films, beginning with their 2022 film slate, which includes Morbius, Uncharted, Bullet Train, and the sequel to the Oscar-winning Spider-Man: Into the Spider-Verse. There will also much more covered installments from major Sony franchises like Jumanji and Bad Boys in the future, as well.
Sony has actually not launched an opponent service to Netflix unlike Disney and any other else companies so far but it is making a major deal to strengthen its alliance with the streaming giant, which has been spending billions to build out a library of its own in anticipation of the launch.
Netflix and Sony already have an output deal for Sony Pictures Animation titles since 2014. And now, the beloved streaming service will also have access to Sony‘s library along with the ability to license the rights to select titles from it, including Columbia’s nearly century-old catalog, Tri-Star, Sony Pictures Classics, Screen Gems, and more. Netflix will also have access to first-run film offerings including Marvel content like future installments of Spider-Man and Venom, that it couldn’t reach out because of Disney+’s launch.
Scott Stuber, Head of Global Films at Netflix, talked about the new major deal between the two companies and said,
“Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement. 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.”
In the meantime, Sony Pictures Entertainment’s President, Worldwide Distribution and Networks, Keith Le Goy continued explaining and supported him afterward.
“Netflix has been a terrific partner as we continue to expand our relationship. 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,” she said.
“This not only allows us to bring an 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,” also added Scott Stuber.
So, Netflix has been trying to keep every type of viewer pleased, no can’t deny that. The beloved and popular streaming giant got its hands full and working like a bee and keep growing its huge library day by day to do so. And it seems it manages pretty well doing it by looking at this new major deal with Sony Pictures as well. What do you think? I don’t know about you, but I’m already thrilled about what is yet to come ahead of us.
This might really fire up the competition between Disney+ and Netflix as well, which is actually expected Disney+ to crash down Netflix with its estimated subscription in the future. I wonder how this new deal will affect the competition game along the way. But we will be the ones who are to benefit from it by keep watching amazing shows, for sure.