Netflix is making a big deal with Sony Entertainment
Netflix made a big deal with the entertainment arm of Japanese electronics group Sony. The video streaming service will receive exclusive rights to Japanese films in the US in the coming years. If new parts are released in popular movie series like Jumanji and Spider-Man, they will be added to Netflix after the movies are shown in the cinema.
Sony also offers Netflix the first opportunity to purchase movies that aren’t going to the cinema. The streaming service may co-produce it if it so desires. The amount of funds involved in the transaction was not disclosed. Earlier in the negotiation process, it was revealed that Sony wanted at least $ 250 million a year from Netflix.
According to experts, the agreement with Sony, which will go into effect next year, will likely not provide millions of additional Netflix subscribers. However, cooperation is important due to fierce competition among streaming services. Previously, for example, Netflix had a similar deal with Disney. But in the meantime, that entertainment group has become a major Netflix competitor with Disney +.
Sony is the only major Hollywood filmmaker not owned by a streaming company that competes with Netflix. It is not yet known how long Sony’s films will remain in the cinema before they appear on Netflix. It is also not clear what the deal means exactly, for example, the Netflix movie was shown in the Netherlands.
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