Katarzyna Petru
Netflix has officially announced the signing of an unprecedented global deal with Sony Pictures. This is the first agreement of its kind in the history of the industry, which will put an end to the fragmentation of the studio's catalog and provide the streaming giant with exclusive access to the biggest cinematic hits worldwide.
The Biggest Contract in Streaming History
According to information from Deadline, we are dealing with the largest transaction of its kind in history. Its value is estimated at over 7 billion dollars. In the battle for global rights to Sony's library, Netflix had to surpass its largest competitor – the Amazon platform. The agreement includes global rights to new Sony Pictures films after their theatrical window and a short period of availability on VOD services (such as Apple TV or FandangoNow). The agreement will be implemented gradually until early 2029, as existing licensing agreements in various countries expire, and it will remain in effect until 2032.
Until now, the Sony Pictures catalog has been heavily fragmented – the rights to individual titles varied by region, and movies often migrated between different platforms. The new agreement changes the rules of the game.
“Our users around the world love cinema. Providing them with exclusive access to beloved Sony films adds incredible value to their subscriptions” – commented Lauren Smith, Vice President of Licensing and Programming at Netflix.
Legendary catalog and upcoming hits
As part of the collaboration, Netflix subscribers will gain access to exceptionally strong brands. The list includes:
Spider-Man
Ghostbusters
Jumanji
Venom
Bad Boys
Hotel Transylvania
The Legend of Zelda (upcoming production in collaboration with Nintendo)
Netflix has already confirmed that some of the first new releases covered by the agreement will be: the animated film Buds, a live-action version of The Legend of Zelda, and the highly anticipated film Spider-Man: Beyond the Spider-Verse.
Sony is not everything
Despite its close collaboration with Netflix, Sony is not completely giving up its own distribution channels. The studio's films will still be available on the Sony Pictures Core service (exclusively on Sony TVs and PlayStation consoles) and on transactional VOD platforms, where they can be purchased or rented individually. It is worth noting that this gigantic move from Netflix comes at a crucial moment for the company – the streaming giant is currently in the process of acquiring Warner Bros and HBO Max, which cements its position as the absolute market leader.
Sources: FlatpanelsHD, Deadline, Netflix, x.com
