Spider-Man is swinging onto Netflix in the near future.
According to the Wall Street Journal, after an intense two-year auction, Netflix has come out as the victor by striking a multiyear agreement with Sony Pictures that gives it domestic streaming rights to theatrical movies.
It’s unclear how long the gap between the theatrical release and the streaming release will be, but it’s expected to be less than the typical nine-month wait.
Sony previously had a TV deal with Starz.
Netflix’s deal picks up with Sony’s 2022 movie releases and will continue for five years.
This means that after the movies debut in theaters, they will be released on DVD and Blu-ray before being available exclusively on Netflix.
As part of the deal, Netflix is allowed a first-look option to choose which films will make their way onto the streaming platform.
It will also get exclusive rights to films that are being released “direct-to-streaming.”
Netflix will also be able to license an unspecified number of older titles from Sony’s catalog.
Per Variety, this will exclude films like “Spider-Man: No Way Home, Venom: Let There Be Carnage” and “Ghostbusters: Afterlife,” which are set to premiere in 2021.
For now, Sony’s only 2022 announced titles are “Spider-Man: Into the Spider-Verse 2,” “Uncharted,” “Escape Room 2,” and “Morbius.”
“Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement,” Netflix global film head Scott Stuber said in a statement. “This not only allows us to bring their impressive slate of beloved film franchises and new IP to Netflix in the U.S., but it also establishes a new source of first run films for Netflix movie lovers worldwide,” he added.
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