Bulletin
Investor Alert

New York Markets After Hours

Associated Press Archives | Email alerts

April 8, 2021, 5:57 p.m. EDT

Netflix buys rights to stream new Sony movies beginning in 2022

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Netflix Inc. (NFLX)
  • X
    Sony Group Corp. ADR (SONY)
  • X
    Walt Disney Co. (DIS)

or Cancel Already have a watchlist? Log In

By Associated Press

NEW YORK — Netflix further beefed up 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.

Beginning next year, Sony’s new films will exclusively stream domestically on Netflix after their theatrical runs. That includes movies in popular franchises like “Spider-Man,” “Venom” and “Jumanji,” and 2022 releases including “Morbius,” “Where the Crawdads Sing,” “Uncharted” and “Bullet Train.”

The agreement also gives Netflix /zigman2/quotes/202353025/composite NFLX +0.86% a first-look option on any films the Culver City, Calif.–based studio elects to send directly to streaming.

In a world of quickly proliferating streaming services, the deal — of a type that in the past would have typically gone to premium cable networks — is an anomaly. Sony /zigman2/quotes/208567357/composite SONY -0.73% is the only traditional Hollywood studio without a streaming service of its own. Walt Disney Co. /zigman2/quotes/203410047/composite DIS +1.68% has Disney+, AT&T’s /zigman2/quotes/203165245/composite T -0.77% Warner Bros. has HBO Max, Comcast’s /zigman2/quotes/209472081/composite CMCSA +1.98% Universal Pictures has Peacock and ViacomCBS’s /zigman2/quotes/200340870/composite VIAC +3.25% Paramount Pictures has Paramount+.

Wednesday’s deal replaces a long-running agreement between Sony and Starz. Financial terms weren’t disclosed. 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.

“Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement,” said Netflix global film head Scott Stuber. “This not only allows us 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 increasingly competitive streaming landscape, the deep-pocketed Netflix has been aggressively expanding its film library. The streaming service plans to release more than one film a week this year. It also recently acquired the rights to multiple “Knives Out” sequels in a deal that reportedly exceeds $450 million.

/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 503.84
+4.29 +0.86%
Volume: 3.13M
May 7, 2021 4:00p
P/E Ratio
61.00
Dividend Yield
N/A
Market Cap
$221.50 billion
Rev. per Employee
$2.66M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 97.04
-0.71 -0.73%
Volume: 877,013
May 7, 2021 4:00p
P/E Ratio
10.96
Dividend Yield
0.36%
Market Cap
$121.46 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 184.84
+3.05 +1.68%
Volume: 6.85M
May 7, 2021 4:04p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$330.00 billion
Rev. per Employee
$320,813
loading...
/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 32.16
-0.25 -0.77%
Volume: 28.93M
May 7, 2021 4:04p
P/E Ratio
N/A
Dividend Yield
6.47%
Market Cap
$231.41 billion
Rev. per Employee
$746,783
loading...
/zigman2/quotes/209472081/composite
US : U.S.: Nasdaq
$ 58.11
+1.13 +1.98%
Volume: 17.85M
May 7, 2021 4:00p
P/E Ratio
23.00
Dividend Yield
1.72%
Market Cap
$261.78 billion
Rev. per Employee
$616,452
loading...
/zigman2/quotes/200340870/composite
US : U.S.: Nasdaq
$ 39.39
+1.24 +3.25%
Volume: 25.45M
May 7, 2021 4:00p
P/E Ratio
10.05
Dividend Yield
2.44%
Market Cap
$24.86 billion
Rev. per Employee
$1.14M
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.