The following is content produced through artificial intelligence (AI) translation, and the original text is a Bloomberg report dated January 16.
[서울=뉴스핌] Reporter Sookhye Hwang = Netflix (NFLX) has secured the rights to stream Sony Group’s (SONY) movies worldwide after their theatrical screenings and on-demand (PPV) paid services have ended, adding new works from one of Hollywood’s major studios to its lineup.
The multi-year agreement announced on January 15 expands the partnership the two companies signed in 2021. The contract at the time provided Netflix with the rights to screen Sony films in the United States after they are released in theaters and available for online purchase and rental, as well as rights in Germany and some Asian regions.
In a statement, the companies said Sony films will gradually be available on Netflix worldwide starting later this year as rights in each region are sequentially released, with the rollout expected to be completed by early 2029. As part of the deal, Netflix will also have the rights to license select movies and TV series from Sony’s library, including hit franchises such as “Spider-Man” and “Jumanji.”
According to anonymous sources familiar with the matter, the contract is worth about $7 billion and runs until 2032. This deal has the effect of further strengthening Netflix’s lineup of theatrically released movies.
This lineup could grow even larger if streaming company Netflix succeeds in acquiring the studio business of Warner Bros. Discovery. Netflix is currently competing with Paramount Skydance for Warner Bros.
shhwang@newspim.com
