This news comes to us via Deadline.
The deal means that the upcoming Spider-Man films and the Spidey spinoff movies such as Morbius and Venom 2 will be made available on Netflix before any other streaming service.
This is a bit of a kick in the teeth for Disney and their Disney Plus streaming service.
I’m pretty sure they would have rather had the Spider-Man films come to their streaming service after its theatrical run.
However, this new licensing deal between Netflix and Sony will prevent that.
Netflix now has an 18-month exclusive window for Sony films.
The deal makes sense for Sony Pictures since they do not have a streaming service of their own.
Rather than having the hassle and the expense of starting up their own one, they’ve opted to be paid $1 billion to have their films go to Netflix after they’ve been released in cinemas.
The upcoming Spider-Man and Spidey spinoff movies will be Netflix timed exclusives
Here’s what Netflix film chief Scott Stuber said in the official announcement:
Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement. 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.
Sony distribution and networks chief Keith Le Goy added:
This exciting agreement demonstrates the importance of that content to our distribution partners as they grow their audiences and deliver the very best in entertainment.
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