Netflix has signed a deal with Sony Pictures on Thursday to get the rights for all Sony Pictures’ future content for 5 years. This would start from 2022 and may have movies like Spiderman, Morbius from Marvel, Brad Pitt’s Bullet Train coming onto Netflix. Well, rolling out on the OTT platform is agreed upon only after these movies completing their run in theatres.
Netflix Partnered With Sony For Future Films
Netflix is the largest OTT with over 200 million users worldwide and can buy out popular film franchises and studios. The American streaming platform has now struck a deal with Sony Pictures, allowing Netflix to stream the content exclusive to Sony Pictures.
Starting in 2022, Netflix will be the first US streaming home for Sony Pictures films following their theatrical releases. Get ready for UNCHARTED, MORBIUS, BULLET TRAIN & WHERE THE CRAWDADS SING, plus future sequels to VENOM, JUMANJI, BAD BOYS & SPIDER-MAN: INTO THE SPIDER-VERSE
— NetflixFilm (@NetflixFilm) April 8, 2021
The deal names all the titles releasing from 2022 in theatres, made by Sony Pictures going to Netflix after their full run in theatres. This continues to five long years and has titles like Where the Crawdads Sing, a bestselling book adaptation, a Marvel film named Morbius, Brad Pitt’s thriller Bullet Train, Jumanji, Spiderman, Venom, Bad Boys, etc.
Further, some old content from the Sony Pictures library and any movies made exclusively for streaming on OTT will be made available for Netflix, as per the agreement. While there no hint on how much amount Netflix is spending on acquiring this right, that could depend on the nature of the content being released and how successful it ran in theatres.
The share price of Netflix has risen about 1.2% in the afternoon trading on Nasdaq, standing at $553.85 apiece after announcing this deal. As the streaming market is getting tougher with big players like HBO Max, Disney+, and Amazon Prime Video, likely, Netflix spends more than budgeted to remain at the top.