9 Apr – While other film studios like Warner Bros and Disney decided to launch their own streaming platforms, Sony Pictures is still adamant on not leaping into the streaming business, and instead has now opted to sign a new deal with Netflix.
The studio, which previously had an exclusive arrangement with premium cable channel Starz, is inking a deal with the streaming giant for the latter to get an 18-month exclusivity window for new Sony movies after they've played in theatres.
This means that upcoming Sony movies like "Uncharted", "Morbius", "Bullet Train", "Where The Crawdads Sing" and "Spider-Man: Into the Spider-Verse 2" can be streamed on Netflix following its theatrical release.
At the same time, it was also revealed that Netflix has won the bid with an offer of USD$1 billion over four years. This means that the platform will also be able to gain rights to instalments of franchises like "Jumanji", "Bad Boys", and "Spider-Man".
Netflix film head Scott Stuber stated, "This [deal] not only allows us to bring [Sony's] 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."
It is noted that the new deal is a major victory for Netflix, which had lost access to major movies and television shows what with Disney pulling all of its programmes for Disney+, Paramount turning to Paramount+, and favourite shows like "Friends" and "The Office" being moved to HBO Max and NBC's Peacock.