Netflix Signs Deal With Sony To Stream Their Films After Theatrical Run

Netflix Signs Deal With Sony To Stream Their Films After Theatrical Run

Netflix inks a deal with Sony to stream its films exclusively after their runs in theaters starting in 2022, including movies like Uncharted.

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Sony Pictures has inked a lucrative deal with Netflix that will see its films hit the streamer after their theatrical runs. Netflix has been making big moves lately as the theatrical landscape remains in flux due to the pandemic. With record growth for streaming services in 2020, various services like HBO Max, Netflix, and Amazon Prime Video have scooped up high profile films to release exclusively on their platforms.

Prime recently released the highly anticipated Coming 2 America after purchasing rights to the film for a reported $125 million. Last year, Netflix nabbed movies like The Lovebirds, Enola Holmes, The Trial of the Chicago 7, and The Woman in the Window. These and many more were slated for theatrical release before being scooped up by streaming services looking to fill out their libraries during the pandemic, leaving studios in a tough position. They could either sit on their films or sell them to streamers and make a profit that way. Many chose to sell, and now it looks like Sony is getting ahead of this movement by scoring a deal with Netflix.

Variety reports the company has signed a deal with Netflix that gives the streamer exclusive rights to its films after their theatrical runs. Netflix already had a deal in place with Sony to stream its animated films, but this deal will extend to the live-action slate as well and give the streamer first look options at potential straight-to-streaming properties. An exact amount isn’t given, but sources say the deal is likely worth hundred of millions. It will begin with the studio’s 2022 slate. Netflix will pay for each film on a sliding scale according to the individual movie’s box office haul.

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This deal is a huge get for Netflix, one that will see franchises like the Dwayne Johnson led Jumanji films and future Spider-Man movies hit the streamer. Netflix already made waves this month when it was announced it had purchased both Knives Out sequels for roughly $450 million. It’s clear Netflix is making big moves to ensure it remains a power player in the streaming wars, a position that is increasingly threatened by Disney+’s massively successful launch.

One thing that remains unclear is what will happen to the Tom Holland led live-action Spider-Man films. Those films currently stream exclusively on Starz, the network that previously had a deal with Sony. Now that the studio has a deal in place with Netflix, it’s safe to assume they could go to Netflix at some point, in what would be a huge get for the streamer and a disappointing outcome for Disney+, leaving its Marvel Cinematic Universe library incomplete for the next few years. Regardless of what happens with the Spider-Man films, though, Netflix has ensured it’ll have a robust original slate alongside Sony’s extremely popular films.

Link Source : https://screenrant.com/netflix-sony-streaming-deal-theatrical-run/

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