Sony and Netflix have struck a major licensing deal that will make Netflix the streaming home
Warner Bros. has HBO Max. Disney and Pixar have Disney+. Paramount has Paramount + and Universal has Peacock. But unlike its competitors, Sony is one of the few major studios that has not yet launched its own streaming platform to compete with Netflix. But Sony’s sticking by the old adage, if you can’t beat ’em, join ’em. And if you’re going to join ’em, join with the biggest streamer in the market.
Sony and Netflix have struck a major licensing deal that will make Netflix the streaming home for all of Sony’s new theatrical releases. Starting next year, all Sony Pictures movies will stream on Netflix, following their theatrical and home video windows. That includes all the future Spider-Man movies and its surrounding cinematic universe titles.
Under this multi-year exclusive first pay window licensing deal. Sony’s 2022 films, like Morbius, Uncharted, Bullet Train, and the highly anticipated sequel to Spider-Man: Into the Spider-Verse, will stream on Netflix. Following the roughly 18-month window that they’re available in theaters and home video. Future installments from major Sony franchises like Jumanji and Bad Boys will also head to Netflix after theaters too.
This is a big win for both Sony and Netflix. Sony won’t have to weather the cost of launching their own streaming platform while still having one major streamer to house their releases, while Netflix gets a pipeline of new theatrical titles to compete with newcomers like Disney+ and HBO Max, which have adapted to COVID-19 times by dropping major titles straight to streaming. Netflix has long been building out its own library of originals. But as the streaming and theatrical landscape change post-COVID. This new Netflix Sony alliance will strengthen both companies.
This deal didn’t come completely out of nowhere. Netflix and Sony already have a pre-existing output deal for Sony Pictures Animation titles, which was first struck in 2014. But now Sony’s library — including the century-old catalog of Columbia — can be licensed out to Netflix.
As part of the deal, Netflix will also reach into its bottomless well of cash to finance a number of Sony titles. This includes films that Sony intends to make directly for streaming, or plans to later license for streaming. However, the announcement (via The Hollywood Reporter) notes that Sony’s theatrical output will “continue at its current volume.”
“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,” said Keith Le Goy, Sony’s president of worldwide distribution.
Netflix film head Scott Stuber added, “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”. This news comes from Slashfilm.com