Netflix and Sony made a deal about keeping the upcoming Spiderman movies and other selections from Sony Pictures on Netflix after they finish in theaters, according to Wall Street Journal reports.
This contract will start with Sony’s 2022 film slate. Netflix will have the first looks for Sony’s upcoming movies but this deal won’t stop Sony from selling the movies from other streaming platforms. The number of films Netflix has committed to order is currently undisclosed. And some sources speaking to Variety said that this deal is set to last five years and the New York Times reported that Netflix will have to pay around $1billion to Sony over these four years.
And if you wonder what movies Netflix got for this payment WSJ reports that this deal includes future Spiderman movies but it does not say if the upcoming Spider-Man: No Way Home is included. Also, movies from studios under Sony’s umbrella will be included too. These studios are Columbia Pictures, Sony Pictures Classics, Screen Gems, and TriStar Pictures.
Sony is looking for deals with other streamer platforms other than Netflix too. Netflix and Sony built up a really strong relationship over the years. I hope this goes on for these companies.