LONDON – Netflix Inc. has secured exclusive U.S. rights to new movies from Sony Pictures after they leave theaters, in a multiyear agreement giving the streaming giant upcoming films in the popular “Jumanji” and “Spider-Man” franchises.
The entertainment division of Japan’s Sony Corp. has also given Netflix the first chance to buy movies that aren’t headed for theaters and take part in their production, another potential pipeline of original films.
Financial terms of the deal announced Thursday weren’t disclosed, though Bloomberg News previously reported Sony was seeking as much as $250 million a year.
The titles from Sony include some of the most-popular film franchises at the box office year in and year out. Netflix will also be the streaming home for “Morbius,” a spinoff of “Spider-Man,” as well as “Where the Crawdads Sing,” an adaptation of the bestselling novel.
The agreement starts with Sony’s 2022 movie slate. Sony’s previous pay-TV deal was with Starz, owned by Lions Gate Entertainment Corp.