Hollywood, Calif., April 8, 2021 – Beginning with their 2022 film slate, Netflix and Sony Pictures Entertainment (SPE) have announced a multiyear, exclusive first pay window licensing agreement in the United States for theatrically distributed SPE feature films. Netflix’s pre-existing production contract with Sony Pictures Animation films has been expanded to include all SPE film labels and genres.
Netflix will receive first pay window rights to SPE titles following their theatrical and home entertainment periods under the terms of the agreement. Morbius, Uncharted, Where the Crawdads Sing and Bullet Train will be among the first titles available in 2022.
Additional information about the Netflix / Sony Pictures Deal
Films Mentioned above will be followed by more films from Sony Pictures Entertainment’s revitalized slate of IP, such as the sequel to the Oscar-winning Spider-Man: Into the Spider-Verse, as well as many more SPE Marvel films, including upcoming Venom and Spiderman iterations; and planned sequels to the Jumanji and Bad Boys franchises. Netflix will also have access to a limited number of titles from SPE’s extensive film archive.
SP Motion Picture Group will provide Netflix a first look at any movies it plans to produce directly for distribution or later license for streaming as part of the agreement, and Netflix has promised to make a number of such films over the duration of the deal. SPE’s entire theatrical film slate, which will continue at its current volume, will be supplemented by any such direct-to-streaming ventures.
The agreement comes as rival studios such as Universal and Fox consider canceling soon-to-expire production agreements with HBO in favor of filling their own streaming portals. It’s good news for Netflix, which is still dealing with investor concerns about losing main draws like Marvel and Pixar films, Friends, and The Office. It also has a lot of potential for Sony, which doesn’t have its own subscription service to feed, at least in terms of profit.
Netflix film chief Scott Stuber said in the official statement, “Sony Pictures is a wonderful partner, and we are excited to extend our partnership through this forward-thinking agreement.” “Not only does this allow us to put their remarkable slate of iconic film franchises and new IP to Netflix in the United States, but it also provides a new source of first-run films for Netflix movie fans across the world.”
This “exciting agreement shows the value of the content to our joint ventures as they expand their audiences and offer the very best in media,” according to Sony distribution and networks chief Keith Le Goy.
Featured image is from © SPE