Netflix Inks Deal for Rights to Sony Movies, Including Coming ‘Spider-Man’ Films

Netflix Inc. has reached a multiyear settlement with Sony Pictures Entertainment for home streaming rights to the studio’s theatrical films, the businesses mentioned Thursday.
The deal will begin with Sony Pictures’ 2022 film slate. As a part of the pact, Netflix may have a first-look possibility to decide up films Sony is making or licensing particularly for streaming platforms. Netflix has dedicated to ordering an undisclosed variety of these movies, the streaming big mentioned.
Among the releases that can land on Netflix after their theatrical runs are future “Spider-Man” films and different movies primarily based on Marvel characters that Sony has the rights to, together with Morbius and Venom. Netflix will even license older films from Sony’s library. Sony Pictures Entertainment is a unit of Sony Group Corp.
Terms of the five-year deal weren’t disclosed. People conversant in the deal mentioned it could be value a number of hundred million {dollars} yearly and greater than $1 billion over the course of the settlement. The exact determine will rely, partially, on the field workplace efficiency of the movies. The Lions Gate Entertainment Corp. -owned pay-TV channel Starz has rights to Sony films via the top of this yr.
Getting entry to Marvel titles was a key incentive for Netflix, which is not getting recent Marvel content material from Walt Disney Co. as these films and TV exhibits moved to the Disney+ streaming service.

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