Netflix has further strengthened its film catalog on Thursday in a multiyear deal that will make it the new streaming home to Sony Pictures’ top releases in the U.S.
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| Photo: Courtesy of Sony Pictures | Twitter |
The said agreement is also giving Netflix a first-look
option on any films the Culver City, California – based studio chooses to send
directly to streaming.
Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement.
–Scott Stuber, Netflix Global Film Head
Netflix Global Film Head, Scott Studer, said that this not only allows them 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.
In the competitive streaming environment, the well-funded
Netflix has been aggressively growing its movie library. The streaming platform
plans to release more than one film a week this 2021. It also made a recent
acquisition of the rights to multiple “Knives Out” sequels in a deal that
reportedly exceeds $450 million.
The deal by Netflix supersedes a long-running
agreement between Sony and Starz. Though financial terms weren’t disclosed,
however, earlier in the pandemic, Sony sold to Netflix Kevin Hart’s
“Fatherhood,” “The Mitchells vs. The Machines” and “Wish Dragon.” It sent
“Greyhound” to Apple TV+ and “American Pickle” to HBO Max.