Many people had been curious why Sony Pictures hadn’t started-up their own streaming service or attempted to sign a deal with an existing streaming player. That has all changed as there is news today via The Hollywood Reporter that Sony and Netflix have signed a lucrative deal giving the them the streaming rights to their feature films starting in 2022 after the theatrical/home video windows.
Sony has inked a multi-year, exclusive first pay window licensing deal in the U.S. that will allow Netflix first pay window rights to Sony Pictures titles following their theatrical and home entertainment windows, the studio announced Thursday. (The typical pay one window is 18 months.)
Over the course of the deal, Netflix has also committed to financing a number of titles from the studio’s motion picture group. These will encompass the films that Sony intends to make directly for streaming from inception or decides at a later point to license for streaming. The announcement notes that Sony’s theatrical output will “continue at its current volume.
The new deal also gives them access to Sony’s Spider-Man franchise which is going to continue to expand for the foreseeable future as they’ll have dibs on future Spider-Man (mentioned by THR) and Venom films. It will seemingly include upcoming spinoff movies such as Olivia Wilde’s Spider-Woman film, J.C. Chandor’s Kraven The Hunter, Madame Web, Jackpot, Black Cat, Silver Sable, and Nightwatch.
Upcoming releases part of this deal include Uncharted, Morbius, Bullet Train, Spider-Man: Into The Spider-Verse 2, and other films released within the deal.
There was always a hint that Netflix was going to seek a studio partnership after Disney+ became their main competition and HBO Max started throwing the new releases from the Warner Bros. slate on the streaming service.
It’ll be curious if Netflix will attempt to develop exclusive series based on Sony franchises as well. In September, it was reported that a Silk live-action series was in the works with Amazon being considered with Phil Lord, Chris Miller, and Amy Pascal producing. Cindy Moon aka Silk is a spinoff character from Sony’s stable of Spider-Man universe heroes.
SOURCE: THE HOLLYWOOD REPORTER