Netflix and Sony Strike Groundbreaking Worldwide Pay-1 Deal to Stream New Movies

Netflix and Sony Pictures Entertainment are extending their Pay-1 licensing deal in dramatic — and groundbreaking — fashion. This time, the agreement is global.

This new deal, described in an official release as a “multi-year agreement,” will send Sony’s feature films on Netflix worldwide following their theatrical and home entertainment windows.

While financial terms of the deal were not disclosed, it marks the biggest Pay-1 deal ever. An individual with knowledge of the agreement told TheWrap that it’s obviously valued dramatically higher on than the initial Pay-1 deal struck in 2021, which was worth $2.5 billion, since it’s global, but also speaks to the increased value of Sony’s films worldwide.

TheWrap understands that this new deal runs through 2032.

The new arrangement will “roll out gradually starting later this year as individual territory rights become available, with full global availability on Netflix in early 2029. As part of this deal, Netflix will also license rights to select SPE feature film and television library titles,” according to the official release.

The initial Pay-1 deal has been beneficial to both Sony, which does not have its own streaming platform, and Netflix, which needs content.

Currently, Netflix has Pay-1 rights to Sony’s movies in select territories around the world, including the United States, Germany and much of Southeast Asia. Films within the current deal include “Uncharted,” “Spider-Man: Across the Spider-Verse,” “Anyone But You” and “Venom: The Last Dance.”

“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,” Lauren Smith, vice president of licensing and programming strategy at Netflix, said in a statement. “Sony’s impressive slate of iconic film franchises like ‘Spider-Man: Across the Spider-Verse’ and originals like ‘Anyone But You’ have been popular with our U.S. audience and now we’re excited to expand that offering to our members all around the world.”

“Our partnership with Netflix has always been incredibly valuable,” added Paul Littmann, EVP of Global Distribution, Sony Pictures Television, in an official statement. “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. It also further underscores the strength of our independence and unique ability to create meaningful opportunities that benefit our creative stakeholders, consumers, and world-class partners.”

Titles that will be a part of the new arrangement include “The Nightingale,” starring Dakota and Elle Fanning together for the first time; Sony Pictures Animation’s talking plants movie “Buds;” the live-action adaptation of Nintendo’s bestselling game franchise “The Legend of Zelda;” Sam Mendes’ four Beatles biopics; and “Beyond the Spider-Verse,” the third film in the animated trilogy.

Sony and Netflix have been chummy for quite a while, with Sony producing and Netflix distributing the zeitgeist-capturing smash “KPop Demon Hunters” and the Oscar-nominated family comedy “The Mitchells vs. the Machines,” with a sequel on the way.

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