Sony, Netflix reach deal

In another sign of Netflix’s growing dominance, Sony Pictures Entertainment has signed a fouryear deal that will give the streaming giant the exclusive U.S. rights to Sony’s films once they leave theaters and premium videoondemand services.

The deal, which begins with the studio’s 2022 releases, builds on Netflix’s existing partnership with Sony Pictures Animation and replaces the agreement Sony, one of the few major studios without its own streaming service, has had with Starz Entertainment since 2005.

That means that upcoming films like “Morbius,” which features Jared Leto playing the Marvel vampire, and “Uncharted,” starring Tom Holland in an adaptation of a PlayStation game, will become available on Netflix after they complete their theatrical and ondemand runs. As part of the deal, Sony will make two to three movies a year for Netflix, expanding Sony’s slate and giving Netflix exclusive films for its service.

“This not only allows us to bring Sony’s impressive slate of beloved film franchises and new IP to Netflix in the U.S., but it also establishes a new source of firstrun films for Netflix movie lovers worldwide,” said Netflix’s head of global films, Scott Stuber.

Sony emphasized that the arrangement would not alter its theatrical strategy. Before the pandemic, the studio released 15 to 20 films a year in theaters, a plan it intends to resume now that theaters are reopening. Films made for Netflix will be in addition to the theatrical releases.

With the pandemic shutting down movie theaters for much of last year, Sony Pictures pushed many of its films into 2021. It also sold a handful to streaming services, including “Greyhound” to Apple.