Disney and Sony announce pact for Sony movies, including “Spider-Man”

Walt Disney Co. and Sony Pictures Entertainment have announced a comprehensive content licensing agreement that will bring hundreds of Sony movies, including “Jumanji” and “Spider-Man,” to multiple Disney platforms, including Disney + and Hulu.

The deal, announced Wednesday, highlights a voracious appetite for content via streaming services.

Disney, which spent $ 71.3 billion to buy 20th Century Fox film and television studio two years ago because of its program stock, concluded it would need even more movies and TV shows to win the streaming wars. Sony’s contract will also help strengthen Hulu’s films.

Under the agreement, Disney will license Sony movies that will be released theatrically from next year until 2026 – after those movies end up showing during their initial window on a pay-TV. In addition, Disney will get the rights to Sony’s huge movie library. Disney will have the rights to play Sony products on a variety of platforms, including traditional ABC, Freeform, National Geographic and FX Networks networks, as well as its streaming services.

Earlier this month, Sony announced a separate film contract with Netflix.

The arrangement also covers Sony’s theatrical film from 2022-26, including the upcoming releases of “Morbius,” “Where the Crawdads Sing” and “Bullet Train,” followed by future series, including “Venom,” “Spider-Man.” “Jumanji” and “Bad Boys”. When the first TV show ends – usually after about 18 months – the rights to those movies will be transferred to Disney from Netflix.

That means Disney will acquire rights to newer releases in late 2023. But starting in June, Disney will pick up rights to some of the library’s older content, including “Jumanji” and “Hotel Transylvania” and Marvel characters from Sony Pictures, including Spider-Man.

“This significant multi-year agnostic agreement on the platform guarantees Disney’s media and entertainment distribution team a tremendous amount of flexibility and breadth of programming capabilities to leverage Sony’s award-winning award-winning action and family films through our direct-to-consumer services. and linear channels, ”said Chuck Saftler, chief business officer of ABC, Freeform, FX Networks and other Disney networks.

“This is a win for fans who will benefit from being able to access the best content from Hollywood’s two most prolific studios through a multitude of viewing platforms and experiences,” Saftler added.

Sony, which is one of the few Hollywood studios without its own streaming service, has strained as streaming companies frantically search for third-party content to feed their services. The Sony-Netflix contract is estimated to be worth $ 1 billion over five years.

The financial terms of the Disney-Sony agreement have not been announced.

Exit contracts have long generated hundreds of millions of dollars in revenue for film studies. Top-notch cable channels relied on a steady stream of Hollywood movies to keep subscribers.

“This revolutionary agreement reaffirms the unique and enduring value of our films for film lovers and the platforms and networks that serve them,” said Keith Le Goy, President of Sony Distribution and Networks Worldwide.

“We are thrilled to have teamed up with Disney to deliver our titles to their viewers and subscribers. This agreement cements a key part of our film distribution strategy, and that is maximizing the value of each of our films, making them available to consumers in all windows with a wide range of key partners.

Staff writer Ryan Faughnder contributed to this report.

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