Sony and Netflix sign a First-Look Agreement for Streaming Plus First Streaming for Theatrical Releases
Netflix has won the rights to stream Sony Pictures‘ theatrical releases starting with the studio’s 2022 releases. The deal also includes a first-look with Sony for all the direct-to-streaming films from the studio. Netflix is required to commit to a certain number of titles and doesn’t stop Sony from selling direct-to-streaming titles to other services, Netflix would have to pass first though. Netflix also gets the streaming rights for an unknown number of older films in Sony’s vault.
The deal only covers the United States and is believe to be owrth hundreds of millions of dollars.
Sony has been agnostic as far as streaming and video-on-demand forgoing their own branded platform to instead license entertainment to others.
The deal with Netflix is a change as Sony had a deal with Starz, which is now owned by Lionsgate. That deal has been in place since 2006. The Netflix deal is believed to be for five years and would lock in Sony’s films with Marvel Studios once again making Netflix part of Marvel’s film future. No doubt the guaranteed success of the next Spider-Man, Venom, and more in that universe was part of Netflix’s decision.
This deal is on top of the deal that Netflix has for Sony’s animated releases.
About 74 million out of Netflix’s 204 million live in the United States.