Netflix and Sony deal to bring major movies to platform after leaving theaters
Netflix and Sony have made a deal to make major movie releases streamable on Netflix following their theatrical run.
This five-year arrangement will begin in 2022 and include movies like Morbius, Uncharted, Spider-Man: Into the Spider-Verse 2 and more.
While this deal will not include Venom: Let There Be Carnage or Spiderman: No Way Home, it will include all future Venom, Spider-Man, Bad Boys and Jumanji projects.
This will give Netflix first pick of which movies Sony is licensing for streaming platforms, according to The Wall Street Journal. Netflix will also be able to pick out an unspecified number of older movies available from Sony’s collection.
While details weren’t disclosed on the specifics of the deal, it is estimated to have cost several hundred million dollars annually with the precise amount depending on how the movies perform in their theatrical runs.
Netflix currently has 74 million subscribers, but the question remains whether or not this deal will increase the subscription price or not.
