Netflix and Sony Pictures Entertainment (SPE) signed a multiyear, exclusive first pay window licensing deal. This is for U.S. theatrically released Sony Pictures feature films. Furthermore, the deal will kickoff with the 2022 film slate from Sony Pictures.
Netflix already has a pre-existing output deal with Sony Pictures Animation. So, this will enhance that deal to include all Sony Pictures Entertainment film labels and genres.
The deal means Netflix will have first pay window rights to SPE titles after their theatrical and home entertainment windows. For example, Morbius, Uncharted, Where the Crawdads Sing, and Bullet Train will be among the initial 2022 slate covered in this deal.
Even more importantly, future entries like the sequel to Spider-Man: Into the Spider-Verse and future installments of Venom and Spiderman will be included. Also, other Sony IP covered includes “expected” sequels in the Jumanji and Bad Boys franchises.
In addition, Sony Pictures’ Motion Picture Group will give the streamer first look at any films it intends to make directly for streaming or films they decide later to license for streaming. For their part, Netflix committed to make a number of such films. This is additive to the SPE theatrical slate.
“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.”
Keith Le Goy, President, Worldwide Distribution and Networks, Sony Pictures Entertainment
This provides Netflix an important pipeline of new content. While Netflix boasts 204 million paid memberships worldwide, it has lost important franchises like the Marvel Cinematic Universe films, The Office and Friends. Meanwhile, competition is tightening. For the quarter ending January 2, 2021, Disney+ paid subscribers totaled 94.9 million. That was up from 26.5 million the year prior. And the Disney streamer has had several buzzworthy series like Wandavision, The Mandalorian and The Falcon and the Winter Soldier.
Netflix continues to spend big money to feed the content beast. It is reported that the streamer was near a deal worth more that $400 million to make two sequels to 2019’s Knives Out. Daniel Craig would return to star and Rian Johnson returns to direct.
