Netflix Signs 10 Trillion Won Global Exclusive Deal with Sony Pictures

Global streaming market leader Netflix announced on the 15th local time that it has signed a multi-year exclusive streaming license agreement with Sony Pictures Entertainment (hereinafter referred to as Sony).

Through this agreement, Netflix has secured the rights to exclusively stream Sony films that have completed their theatrical release and self-distribution period in the global market.

Netflix currently holds 'Pay-1' streaming rights for Sony's feature films in certain regions, including the United States, Germany, and Southeast Asia, and this agreement expands those rights globally.

The newly signed 'Global Pay-1' agreement will be implemented gradually starting from the end of this year, as rights are secured for individual regions, and is expected to be fully applied worldwide by early 2029.

Netflix stated that the lineup of Sony films to be streamed under this agreement includes the adaptation of Kristin Hannah's bestseller 〈The Nightingale〉, the animated film 〈Buzz〉, the live-action film based on the Nintendo game 〈The Legend of Zelda〉, 〈Spider-Man: Beyond the Universe〉, and a four-part biopic of The Beatles directed by Sam Mendes.

Sony Pictures is a subsidiary of the Sony Group headquartered in Tokyo, Japan, operating several studios responsible for film and animation production.

Lauren Smith, Vice President of Netflix's Licensing and Program Strategy, stated that providing exclusive access to Sony's popular films will greatly enhance the service value for subscribers, as members around the world love movies.

The two companies did not disclose the specific financial terms of the agreement. However, Hollywood media outlets Deadline and Variety reported, citing sources, that the scale of the deal between the two companies is estimated to exceed $7 billion, approximately 10.3 trillion won, making it the largest 'Pay-1' deal in history.

Industry experts analyzed that Netflix is further strengthening its dominance in the industry by successfully securing large-scale contracts to expand its streaming content.

Last month, Netflix signed a merger and acquisition agreement with Warner Bros. Discovery worth a total of $82.7 billion (approximately 121.5 trillion won) and is currently proceeding with related procedures.