Netflix has made a new bombshell streaming deal with Sony Pictures. The deal will see Netflix become the new, exclusive streaming home to Sony movies after they have had their traditional runs in theaters and on home video. This extends to the studio’s biggest franchises, such as Spider-Man, and goes into effect with Sony’s 2022 slate.
The multi-year exclusive first pay window licensing deal extends to Sony theatrical releases. It is also important to note that this deal is specifically for U.S. streaming rights. Some of the studio’s notable titles coming down the pipeline next year include Spider-Man: Into the Spider-Verse 2, Morbius, Uncharted and Bullet Train. Scott Stuber, Head of Global Films at Netflix, had this to say in a statement.
“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.”
Another, important element of the deal has to do with movies Sony intends to produce for streaming, or release directly to streaming. Netflix will have a first-look at these movies and has made a commitment to produce several movies during the course of the newly-announced deal. Keith LeGoy, President, Worldwide Distribution and Networks at Sony Pictures Entertainment, had this to say.
“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.”
Financial terms of the deal were not disclosed but it appears to be a huge win for both sides. Sony, unlike Paramount, Warner Bros. and Disney, does not have its own streaming platform. So the studio’s largest franchises, which also include Jumanji and Venom, do not currently have an exclusive streaming home. That has now changed for the foreseeable future. As for Netflix, their library can now be bolstered with desirable titles several months after the movies have left theaters. Aside from the new movies,Netflix will have the option to license the rights to select titles from Sony’s library as well.
While Spider-Man: No Way Home and Venom: Let There Be Carnage are both set to arrive this year and are not included in the deal, future entries in the Marvel franchises will be. This includes any other spin-offs Sony decides to produce. That is particularly important for Marvel Cinematic Universe fans who had perhaps been hoping that Tom Holland’s Spider-Man movies would eventually wind up on Disney+. That has now been taken off the table. We’ll be sure to keep you posted as further details are made available. This news comes to us via The Hollywood Reporter.