Netflix and Sony sign $7B deal for global streaming rights

Netflix and Sony Pictures Entertainment finalized a landmark $7 billion-plus global Pay-1 deal granting Netflix exclusive worldwide streaming rights to Sony films after theatrical release, an industry first.reuters+2
The multi-year agreement expands a 2022 deal that covered the U.S. and select regions, with global rollout beginning later this year and full coverage expected by early 2029.reuters+1
Initial titles include "The Legend of Zelda" live-action adaptation, "Spider-Man: Beyond the Spider-Verse," and Sam Mendes' Beatles films, as Netflix continues expanding licensed content amid its pending Warner Bros. Discovery acquisition.variety+1

Netflix and Sony Pictures Entertainment have finalized a landmark multi-year agreement that grants the streaming platform exclusive worldwide rights to Sony's feature films after their theatrical and home entertainment windows, the companies announced Thursday. The deal represents the first global Pay-1 arrangement in the industry's history.

The agreement, reported by Deadline to be valued at more than $7 billion, expands on a 2021 partnership that gave Netflix rights to Sony films in the United States, Germany, and parts of Southeast Asia. That earlier deal was worth $2.5 billion over five years. The new global pact will roll out gradually as regional rights become available starting later this year, with full worldwide coverage expected by early 2029 and continuing through 2032.reuters+3

A Pipeline of Blockbusters

Among the first Sony films set to stream on Netflix under the new arrangement are "The Nightingale," an adaptation of Kristin Hannah's novel starring Dakota and Elle Fanning in their first joint performance; Sony Pictures Animation's "Buds"; Nintendo's live-action "The Legend of Zelda"; "Spider-Man: Beyond the Spider-Verse," the conclusion to the animated trilogy; and Academy Award-winner Sam Mendes' quartet of Beatles films.variety+1

"Our subscribers globally are passionate about films, and providing them exclusive access to Sony's beloved movies significantly enhances their subscription value," said Gwen Smith, Netflix's Vice President of Licensing and Programming Strategy. Sony titles such as "Spider-Man: Across the Spider-Verse," "Anyone But You," "It Ends With Us," and "Venom: The Last Dance" have ranked among Netflix's most-viewed content under the existing agreement.deadline+1

Strategic Shift in Distribution

For Sony , the deal consolidates what had been fragmented overseas Pay-1 rights among various international distributors into a single global partnership. The arrangement secures a powerful outlet for Sony's theatrical releases as studios continue to reevaluate long-term distribution strategies amid shifting audience preferences driven by streaming.reuters+1

"Our partnership with Netflix has always been incredibly valuable," said Paul Littmann, Executive Vice President of Global Distribution at Sony Pictures Television. "This new Pay-1 deal takes that partnership to the next level and reinforces the enduring appeal of our theatrical releases to Netflix's global audience."sonypictures+1

The Sony agreement arrives as Netflix pursues an $82.7 billion acquisition of Warner Bros.'s film and television studios, HBO, and HBO Max. The streaming giant also holds a Pay-1B deal with Universal set to begin in 2027 that will bring live-action titles from Universal and Focus Features to the platform.deadline+3

Sources (26)