By Dhirendra Tripathi
Investing.com – Sony (NYSE:) shares were up more than 2% on the company handing Netflix (NASDAQ:) the exclusive right to stream all its movies after their theatrical and home entertainment releases.
The multiyear deal, effective 2020, means films such as Morbius, Uncharted and Bullet Train will be streamed on Netflix. The sequel to Oscar-winning ‘Spider-Man: Into the Spider-Verse’ and several more Sony films featuring Marvel characters will also be available on the streaming platform.
Franchises such as Jumanji and Bad Boys are also included in the deal.
As part of the partnership, Sony Pictures’ Motion Picture Group will offer Netflix a first look at any film it intends to make directly for streaming or decides later to license for streaming. Netflix has committed to make a number of those films over the course of the deal.
This new agreement builds upon Netflix’s pre-existing output deal with Sony Pictures Animation films to now include all Sony Picture Entertainment film labels and genres.
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