What turned out to be one of the biggest deal, Netflix has acquired the rights to some of the best selling movies like Spider-Man and Jumanji from Sony Pictures.
The OTT streaming giant, Netflix, purchased the exclusive US rights from SONY Pictures for new movies after they are out of theaters. The exclusive rights included a multi-year agreement for popular upcoming flicks which included “Spider-Man” and “Jumanji” franchises. The deal also includes few movies produced by SONY which might not release in theaters due to the pandemic situation and will hit OTT directly.
Though the deal has not been officially announced but as per Bloomberg news, Sony was seeking as much as $250 million a year for the agreement which will kick-off in 2022. Netflix will also stream “Morbius,” a spinoff of “Spider-Man,” as well as “Where the Crawdads Sing,” an adaptation of the bestselling novel.
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The stock price of Netflix rose to their highest of month by 1.8% to $556.90, the moment the news of the deal broke out.