Sony Pictures, the only one of the major five studios not to have its own SVOD service, has closed a major multiyear deal with Netflix.
The exclusive first-pay-window licensing deal in the U.S. will begin with the studio’s 2022 film slate and include anticipated titles like “Morbius,” “Uncharted” and the “Spider-Man: Into the Spider-Verse” sequel.
It means once a Sony film has finished its theatrical and VOD run, it will go to Netflix. A typical first-pay-window is eighteen months, and Starz has owned that Sony contract since 2006. The deal is reportedly worth roughly $1 billion to Sony.
Netflix will also have the ability to license the rights to select titles from Sony’s nearly century-old library catalogue including its various labels like Columbia Pictures, Tri-Star, Sony Pictures Classics and Screen Gems.
Over the course of the deal, Netflix has also committed to financing a number of titles from the studio’s motion picture group – some made directly for streaming from inception, others may go theatrical.
The move gives Netflix a new pipeline of first-run film offerings, including a steady supply of Marvel content including future installments of “Spider-Man” and “Venom” beyond the two entries due out this year which don’t fall under this pact.
Source: THR
