Netflix Buys Streaming Rights To All Future Sony Movies, Including Spider-Man
Marvel fans rejoice – Netflix has reportedly bought the streaming rights to the old Sony Spider-Man movies.
The popular streaming service announced the news yesterday, April 8, that it had entered a multi-year contract with Sony which will see old Sony films, such as Andrew Garfield’s Spider-Man movies, being released on Netflix.
As well as this, Netflix now has first dibs on the studio’s new, original movies produced for the direct-to-streaming market.
According to The Wall Street Journal, the deal will begin with Sony Entertainment’s 2022 movie slate, and will see Netflix commit to ordering some of Sony’s new movies.
The deal will span across five years, and while there is limited information surrounding the terms of the deal, sources tell The Wall Street Journal that it’s thought to be worth ‘worth several hundred million dollars annually’, totalling up to more than $1 billion over the five years.
The Marvel movies coming to Netflix don’t stop at Spider-Man films either; others such as Tom Hardy’s Venom and Moribus that Sony have the rights to could also come to the streaming platform. However, much to British movie-watchers’ dismay, the deal only covers the US.
Reportedly, the auction to the rights to the films spanned two years, Variety reports. It’s unknown who else was bidding for the contract.
Despite having just partnered up with the world’s largest streaming platform, Sony executives are said to be working on ‘another significant theatrical movie licensing pact’ outside of its agreement with Netflix, Variety writes.
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