Netflix reaches deal to exclusively stream new Sony movies

Last Updated on July 30, 2021

Sony and Netflix have made a pact that will see the streaming giant get new movies from Sony Pictures several months after they leave theaters. This means that Netflix will become the new, exclusive streaming home for Sony movies after they have had their traditional runs in theaters. This deal, most importantly, extends to the studio's biggest franchises which include Spider-Man. The deal goes into effect with Sony's 2022 slate of films. 

The multi-year exclusive first pay window licensing deal extends to Sony theatrical releases and it is specifically for U.S. streaming rights. The deal is significant because there are a lot of notable Sony releases coming down the pipeline that is likely to give a big boost to Netflix when they hit the streamer such as Spider-Man: Into the Spider-Verse 2, Morbius, Uncharted, and Bullet Train. Scott Stuber, Head of Global Films at Netflix, had this to say about the new deal:

"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."

The next important element of this new pact has to do with movies Sony intends to produce for streaming, or release directly to streaming. Netflix will be allowed a first-look at these movies and has made a commitment to producing several films during the course of the deal.  Keith LeGoy, President of Worldwide Distribution and Networks at Sony Pictures Entertainment elaborated on the deal by saying "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."

The financial terms of the deal were not made public but this is obviously a huge win for both entities. Sony, unlike Warner Bros., Paramount, and Disney, does not have its own streaming platform so that means their biggest franchises do not currently have an exclusive streaming home. This deal gives their franchises like Jumanji, Spider-Man, and Venom, a home for the foreseeable future and it allows Sony to continue their dedication to the theatrical format. They're not shrinking any theatrical to home viewing windows with this deal as it simply allows them a place to house their content after they have their full run in theaters. As for Netflix, they will get to increase their library with even more titles for consumers and, aside from new movies, the streamer will have the option to license the rights to select films from Sony's library as well.

What are YOUR thoughts on the Netflix/Sony deal?