In a landmark move for the streaming industry, Netflix and Sony Pictures Entertainment (SPE) have announced a massive multi-year global “Pay-1” licensing agreement. Under this first-of-its-kind pact, Netflix will become the exclusive worldwide streaming home for Sony’s theatrical releases after their initial cinema and video-on-demand (VOD) windows, effectively ending regional fragmentation for some of Hollywood’s biggest franchises.

While official financial terms remain undisclosed, industry analysts estimate the deal to be worth over $7 billion. This partnership significantly expands upon a previous 2021 U.S.-only agreement. Starting later this year, the deal will roll out gradually across international markets as existing territory rights expire, with full global coverage expected by early 2029.

For Netflix, the deal secures a robust pipeline of “tentpole” content through 2032, supplementing its original programming with proven box-office hits. Sony, meanwhile, reinforces its “arms dealer” strategy, remaining the only major Hollywood studio without its own dedicated streaming service, instead leveraging its library to the highest bidder.

Subscribers worldwide will gain exclusive access to Sony’s future slate during the critical 18-month “Pay-1” window. Confirmed titles under the new agreement include:

• Spider-Man: Beyond the Spider-Verse: The highly anticipated conclusion to the Oscar-winning animated trilogy.
• The Legend of Zelda: Nintendo’s first-ever live-action adaptation of the iconic gaming franchise.
• The Beatles Quartet: Academy Award-winner Sam Mendes’ ambitious four-film project documenting each member of the legendary band.
• The Nightingale: The historical drama starring sisters Dakota and Elle Fanning.

The deal also includes licensing rights for select titles from Sony’s vast back catalog, including franchises like Jumanji, Ghostbusters, Venom, and Bad Boys. Paul Littmann, EVP of Global Distribution at Sony Pictures Television, stated that the move “unifies the window for Sony films,” ensuring that fans no longer have to navigate different services in different countries to find their favorite movies.

Once the exclusive 18-month Netflix window expires, the films are expected to move to Disney+ for their “Pay-2” window in certain markets, continuing a shared-rights ecosystem that maximizes the lifecycle of Sony’s premium content.

Key Highlights:

• Exclusive Window: Netflix will be the exclusive streaming home for all Sony films for 18 months following their theatrical and VOD runs.
• Global Reach: The deal will roll out across all international territories, reaching full global scale by early 2029 and running through 2032.
• Major Titles: High-profile releases like The Legend of Zelda and the Spider-Verse finale are confirmed for the platform.
• Market Value: Estimated at over $7 billion, the agreement underscores the high value of premium studio content in the competitive streaming landscape.