Netflix and Sony Pictures have announced an exclusivity deal that will see the latter’s blockbuster movies land on the former’s streaming service from 2022.
The deal means films like the forthcoming Spider-Man: Into the Spider-Verse sequel, as well as other Spidey and Vemon instalments will land exclusively on Netflix after their theatrical release.
Sony says future Jumanji and Bad Boys films, as well as the Uncharted adaptation Morbius, Where the Crawdads Sing, and Bullet Train will also go to Netflix, as well as some of the company’s direct-to-streaming titles. Netflix will also be involved with the production of those films, while also licensing films from the vast archive.
“As part of the partnership, Sony Pictures’ Motion Picture Group will offer Netflix a first look at any films it intends to make directly for streaming or decides later to license for streaming, and Netflix has committed to make a number of those films over the course of the deal. Any such direct-to-streaming projects will be additive to SPE’s full theatrical film slate, which will continue at its current volume,” a press release reads.
Analysis: Smart move from both companies
Netflix already had a deal to show Sony Pictures Animation films, but the expanded accord now includes all labels under the Sony Pictures Entertainment banner.
The deal comes with the main content providers starting their own streaming services to house films and TV shows they create. HBO Max is hoarding all content from under the Warner Bros. umbrella, which includes D.C.. Disney Plus has an unrivalled library of the very best of Lucasfilm, Pixar, Disney, Marvel and Fox.
The likes of Discovery Plus, Peacock, Paramount Plus, Prime Video are also housing a growing array of homegrown content.
So, it makes sense for Sony to either set up its own shop, or align itself with Netflix. This deal also makes sense for Netflix, which has lost an abundance of third-party content to the standalone streaming services in the last couple of years as its own original content output continues to snowball.