Netflix will get exclusive streaming rights to future Sony films

Netflix will get exclusive streaming rights to all of Sony’s upcoming movies, including the next installment in the Spider-Man franchise. The two companies announced a new agreement that gives the streaming giant exclusive rights to Sony’s upcoming theatrical releases beginning in 2022. According to The Hollywood Reporter, the five year agreement will pay Sony about $1 billion.

With the deal, new Sony movies will go exclusively to Netflix following their theatrical release. The deal will cover upcoming blockbusters like Morbius and Uncharted, as well as the sequel to Spider-Man: Into the Spider-Verse and “future installments of Venom and Spider-Man.” In addition to new releases, the deal will also cover some older films from Sony’s catalog, though it’s not clear which titles. Netflix will also get a first pass at Sony’s direct-to-streaming titles, and the streamer has committed to making a certain number of those movies.