Netflix shares were in the spotlight on Thursday after it said it has obtained global streaming rights to Sony Group’s films after they finish their run in theatres, adding one of the biggest Hollywood studios to its streaming platform.
Sony pictures will roll out gradually starting later this year, with full global availability on Netflix in early 2029. As part of this deal, Netflix will also license rights to select Sony Pictures Entertainment (SPE) feature film and television library titles, the statement said.
As part of the deal, Netflix will also be able to license hit films including Uncharted, Spider-Man: Across the Spider-Verse, It Ends With Us, Anyone But You, and Venom: The Last Dance.
“Our partnership with Netflix has always been incredibly valuable,” said Paul Littmann, EVP of Global Distribution, Sony Pictures Television. “This new Pay-1 deal takes that partnership to the next level and reinforces the enduring appeal of our theatrical releases to Netflix’s global audience,” he added.
Sony’s deal follows a deal that Netflix struck with Comcast’s NBCUniversal in 2024 under which Netflix gained rights to stream live-action movies.
As per the deal, starting in 2027, the live-action films from Universal Pictures which include franchises such as Fast & Furious and Jurassic Park, will appear on Netflix no later than eight months following theatrical release, the companies had said during the announcement at the time.
The deal comes amid ongoing struggle between Paramount and Netflix to acquire Warner Bros Discovery. Recently reports have said that Netflix is amending its offer for Warner Bros Discovery Inc. (WBD), following a hostile bid from Paramount Skydance Corp. (PSKY) for WBD.
Netflix’s offer ascribes an enterprise value of $82.7 billion for WBD’s studios and streaming businesses. Paramount has offered $30 per share to WBD’s shareholders, valuing the deal at $108.7 billion, which has been rejected by WBD.
Retail sentiment around NFLX trended in the ‘extremely bullish’ territory amid ‘extremely high’ message volume.
Shares of Netflix have risen nearly 6% over the past year.
