Angela Lang /
Netflix has entered into a new agreement with Sony Pictures Entertainment to stream all new studio movies starting by films released in theaters in 2022, the companies said Thursday. ch includes popular franchises such as Jumanji , on Spider-Man Movies narratively related to Marvel's blockbusters and Morbius , a spin-off of this Spider-Man universe. Films will be availableto be shown in what's called a pay window, once they've already finished shooting in theaters and are available for home viewing, such as online rental.
Spider-Man: No Way Home may be the one of the last films to be shown first on television via Starz, which currently contains the Pay Window Rights to Sony Movies. Starz will remain the first place on TV to watch all Sony movies released in theaters this year - currently this includes the third of trilogy of films starring Tom Holland as a mild-mannered superhero. No Way Home is set to hit theaters on December 17th. Netflix will take over the rights to Starz from January 1.
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Typically, movies licensed in a paid window would be available for viewing on a streaming service or TV network for about nine months. after the theatrical release of a film. But last year saw a dramatic collapse of those windows as The COVID-19 pandemic has forced theaters around the worldnde whole to shut down, decimating the box office market for films. Studios, distributors and movie chains are now determining how long theaters will enjoy new movie exclusives when public health restrictions finally open theaters wide. The agreements so far state that the films will never be released the same way they were before the pandemic.
Netflix and Sony did not say how long after theatrical release, their one-time payment window would start making movies available for streaming.
Netflix had already made a deal for Stream Sony's Pictures Animation films, including the sequel to Spider-Man: Into the Spiderverse, so Netflix will now be the streaming hub for all of Sony Pictures Entertainment's movie genres and labels, the companies said. noted that the new deal means Netflix will release "several other ... movies featuring Marvel characters, including future episodes of Venom and Spiderman; and expected follow-ups for the Jumanji and Bad Boys franchises.
The new Netflix deal also includes a provision giving the streaming giant the first chance to capture any movies Sony decides to make live streaming titles, in whichThis is called a first sight chord. But Sony has said it will not reduce the number of films shown in theaters; all direct-to-home projects will add to a "full slate of motion pictures, which will continue at its current volume," the companies said.
As part of the pact, Netflix will start streaming some titles from Sony's old movie library next year, the companies said without specifying any titles.
The financial conditions have not been $ 250 million per year ; Variety reported on Thursday that the new deal would be last about five years .
This type of paid deal has been a Hollywood staple for years. studios to generate a lot of money for their films. But as more and more big media companies launch their own streaming options to compete with Netflix, these offerings have become rarer. Disney, for example, allowed its mega-paid deal with Netflix to run out the year before Disney Plus launched, instead reserving all of its own movies to debut streaming on its own service.
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