Netflix and Sony Pictures Entertainment have announced a global exclusive "Pay‑1" licensing deal, valued at more than $7 billion, which will allow Sony films to premiere on Netflix worldwide after their theatrical and usual home entertainment runs.
This multi-year, exclusive agreement represents a first for the entertainment industry, as it expands a model that until now was limited to specific regions and turns it into a global premiere window for Sony's feature films.
According to the companies, the agreement will be implemented gradually starting at the end of this year, as rights by territory become available, with the aim of achieving full global availability on Netflix by early 2029. The pact allows Netflix to be the first streaming platform to show Sony's theatrical releases once their traditional distribution windows (cinema and video on demand) have concluded, thus consolidating a powerful and exclusive content offering in the service's catalog.
This move takes place in a context of intensifying "streaming wars," in which platforms and studios seek strategic alliances to secure premium content and attract more subscribers in an increasingly competitive market. The agreement includes not only the latest titles from Sony Pictures but also a selection of classic films from the company's extensive film and television catalog, further strengthening Netflix's global catalog.
This strategic move positions Netflix as a top-tier global destination for major theatrical releases after their cinema run, and represents a significant shift in how audiovisual content is distributed worldwide.