Sony Pictures Entertainment and Netflix have signed a new multi-year pay-1 licensing agreement, granting the streamer global rights to Sony's feature films after their theatrical and home entertainment windows. The deal, which builds on their 2021 U.S.-focused partnership, will roll out gradually starting later in 2026 and achieve full worldwide availability by early 2029. Financial terms remain undisclosed, but it surpasses the previous $2.5 billion arrangement in value.
The agreement marks a significant expansion of Sony and Netflix's collaboration, which began in 2021 with a five-year, $2.5 billion pay-1 deal for domestic rights in territories including the United States, Germany, and Southeast Asia. Under the new pact, running through 2032, Netflix will exclusively stream Sony's theatrical releases worldwide following their initial windows. Rollout begins later this year as territory rights become available, with complete global access by early 2029. Netflix will also license select Sony feature film and television library titles.
Sources indicate the deal's value exceeds $7 billion, making it the largest pay-1 arrangement to date, reflecting the growing international appeal of Sony's content. Recent Sony films that have performed well on Netflix in covered regions include 'Uncharted,' 'Spider-Man: Across the Spider-Verse,' 'Anyone But You,' 'Venom: The Last Dance,' and 'It Ends With Us.' These titles have boosted viewership and underscored the partnership's mutual benefits, especially for Sony, which lacks its own streaming service.
Upcoming releases set to join the deal encompass 'The Nightingale,' starring Dakota and Elle Fanning; Sony Pictures Animation's 'Buds'; a live-action adaptation of 'The Legend of Zelda'; Sam Mendes' four-part Beatles biopics; 'Spider-Man: Beyond the Spider-Verse'; 'Spider-Man: Brand New Day'; and sequels to 'The Social Network' and 'Jumanji.' Past collaborations include Netflix-distributed Sony productions like 'KPop Demon Hunters' and the Oscar-nominated 'The Mitchells vs. the Machines,' with a sequel in development.
Lauren Smith, Netflix's vice president of licensing and programming strategy, stated, 'Our members all over the world love movies and giving them exclusive access to Sony’s much loved films adds incredible value to their subscriptions.' Paul Littmann, Sony Pictures Television's executive vice president of global distribution, added, '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.' The deal highlights Sony's strategic independence in content distribution amid a consolidating streaming landscape.