09 Apr 2021: Catch Sony's 'Spider-Man,' 'Venom,' 'Jumanji' on Netflix, but conditions apply
Netflix has expanded its library even further.
The streaming giant has acquired the rights to air the top releases of Sony Pictures in the United States.
In a multi-year deal that kicks off next year, Netflix will exclusively stream titles from Sony Pictures like Spider-Man, Jumanji, Venom etc., after their theatrical release.
It will also stream 2022 releases like Morbius, Uncharted and Bullet Train.
Details: To note: Sony Pictures doesn't have its own streaming service
Over the years, Sony Pictures have sold rights of many of its products to different streaming platforms.
It is to be noted that Sony is one of the only top-notch production houses that doesn't have a streaming service of its own, like Walt Disney Co. that has Disney+, Universal Pictures has Peacock, Paramount Pictures has Paramount+ and even Warner Bros. has HBO Max.
Information: Sony had a long-running agreement with Starz, that's getting replaced
This new deal by Sony Pictures is set to replace the long-running agreement between them and Starz.
The exact terms and the money that will be exchanged haven't been disclosed yet.
During the coronavirus pandemic, Sony had sold the rights of Kevin Hart's Fatherhood to Netflix along with The Mitchells Vs. The Machines and Wish Dragon.
They also sold American Pickle to HBO Max.
Quote: Sony Pictures is a great partner, says Netflix's Scott Stuber
Netflix global film head Scott Stuber called Sony Pictures a "great partner" and said that they were happy to "expand" Netflix's relationship with them.
"This not only allows us to bring their impressive slate of beloved film franchises and new IP to Netflix in the US, but it also establishes a new source of first run films for Netflix movie lovers worldwide," he added.
Netflix: Netflix is investing heavily into content acquisition and production
This move will let Netflix keep many old titles too.
Meanwhile, Netflix is aggressively investing in acquisition and production of new content.
Recently, the platform made news when they invested over $460 million in acquiring multiple sequels to the movie Knives Out.
The original starred Daniel Craig in the role of a detective, who along with writer-director Rian Johnson will return for the sequels.