Netflix acquired exclusive rights to show Sony Pictures films and series
Netflix continues to expand its media empire and has signed a new agreement with Sony, under which all its films will appear on the streaming service shortly after their theatrical and home release.
What is known
The companies' Pay-1 licensing agreement stipulates that after the release of Sony Pictures films, the streaming service Netflix will be the first and exclusive broadcaster of the films for 18 months. The deal is struck for five years, from 2027 to 2032. According to the Netflix press office, the deal will begin to be implemented at the end of this year, and the streaming platform will achieve global reach by 2029.
Bloomberg sources state that the deal is worth about $7 billion.
The relationship between Sony and Netflix goes back several years, for instance, in 2021, the streaming platform acquired the rights to broadcast Sony films in the USA, Germany, and Southeast Asian countries, and now the companies are deepening their cooperation.
Let's recall that Sony's "portfolio" includes film franchises such as Spider-Man, Jumanji, James Bond, Resident Evil, Men in Black, Hotel Transylvania, Ghostbusters, and Bad Boys.
