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Netflix and Sony sign $1 billion deal for exclusively streaming future Sony movies

Netflix Sony

Source: Deadline

Netflix is one of the most popular OTT streaming platforms out there and people love to binge on movies and TV shows on the platform. There is biased popularity for the platform among people, especially millennials that they have literally coined the phrase “Netflix and Chill”.

Having said that, there is good news for everyone as announced by the two companies, Netflix has signed a USD 1 billion deal to get exclusive streaming rights to all future upcoming Sony movies, which includes the next iteration of the Spider-Man franchise. Netflix will now stream all theatrical releases by Sony starting 2022 as it has signed the agreements which gives the OTT platform exclusive streaming rights.

As mentioned in a report by The Hollywood Reporter, users can enjoy Sony theatrical releases on Netflix as the two companies have signed five year’s agreements for USD 1 billion.

Netflix is the hub of movies, TV shows and documentaries where people can enjoy all this popular entertaining content sitting at the comfort of their houses. Netflix has always been popular but its content consumption has increased drastically due to the COVID-19 pandemic. During the induced lockdowns where people were literally sitting at home with nothing else to do as all offices were closed, all movie theatres were closed, all schools, colleges were also closed and people were stuck in their houses for months because of the threat imposed by the novel Coronavirus, Netflix was the only escape for entertainment.

Having said that, users can now enjoy all blockbuster Sony movies on Netflix as following their theatrical release, the movies will exclusively be sent to Netflix to stream. As mentioned in a report by Engadget, upcoming Sony movies that will stream on Netflix include the next iteration of the Spider-Man franchise- Spider-Man: Into the Spider-Verse and all future movies from Venom series.

As a part of the deal, Sony has committed to making a certain number of movies for five years and Netflix will get direct to stream pass for future Sony movies. According to Engadget, the USD 1 billion deal also covers some previously released Sony movies to be streamed on Netflix, the titles to which have not been exclusively mentioned by the company yet.

According to several analysts, Sony has made a wise decision to make this deal with an OTT platform, let alone the most popular one. The COVID-19 situation is worsening day by day and people shall not risk their lives going to the movies for entertainment. With Netflix, one can enjoy all these special movies sitting in the comfort of your homes.

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