Netflix and Sony Pictures Entertainment Enter New Worldwide Deal
Netflix and Sony Pictures Entertainment are furthering their relationship with a new, global Pay-1 deal. On Thursday (January 15), they announced that the multi-year agreement will allow Sony feature films…
HOUSTON, TEXAS – APRIL 19: In this photo illustration, the Netflix app is shown on a mobile phone on April 19, 2022 in Houston, Texas. The company Netflix is expected to report its first-quarter earnings after the close of trading later today. The report will be for the fiscal Quarter ending March 2022. (Photo Illustration by Brandon Bell/Getty Images)
(Photo Illustration by Brandon Bell/Getty Images)Netflix and Sony Pictures Entertainment are furthering their relationship with a new, global Pay-1 deal. On Thursday (January 15), they announced that the multi-year agreement will allow Sony feature films to stream worldwide on Netflix. In an announcement from Netflix, this will be a first of its kind exclusice Pay-1 deal.
The new arrangement will roll out gradually, starting later this year. Officials expect full global availability on Netflix by early 2029. Netflix will also be licensing rights to select SPE feature films and television titles.
“Our members all over the world love movies, and giving them exclusive access to Sony’s much-loved films adds incredible value to their subscriptions,” said Lauren Smith, Vice President of Licensing and Programming Strategy at Netflix, in a press release. “Sony’s impressive slate of iconic film franchises like Spider-Man: Across the Spider-Verse and originals like Anyone But You have been popular with our U.S. audience, and now we’re excited to expand that offering to our members all around the world.”
The deal is an expansion of their 2021 deal, under which Sony films began on the streaming service. That deal was worth over $2 billion and set to expire at the end of 2026. In which, the new deal will kick into play starting in 2027 for the U.S.
“Our partnership with Netflix has always been incredibly valuable,” said Paul Littmann, EVP of Global Distribution, Sony Pictures Television. “This new Pay-1 deal takes that partnership to the next level and reinforces the enduring appeal of our theatrical releases to Netflix’s global audience. It also further underscores the strength of our independence and unique ability to create meaningful opportunities that benefit our creative stakeholders, consumers, and world-class partners.”
This new deal comes during a crazy time for Netflix. The streaming service is in the middle of acquiring Warner Bros. Discovery in another billion-dollar deal.
Read more about the official deal from Netflix here.
