At a time when every other studio wants to be a Netflix competitor, Sony Pictures has decided to become one of its top suppliers. Starz had been the exclusive premium cable home for Sony movies for more than a decade. In a key part of the new arrangement, Netflix will get right of first refusal to show Sony movies that bypass theaters and go straight to streaming. But while other entertainment companies build in-house streaming businesses, Sony Pictures, owned by Tokyo-based electronics giant Sony Corp., has taken the path of arms dealer in the streaming wars. Sony’s Netflix deal builds the Los Gatos, Calif.-based streaming service’s preexisting output deal with Sony Pictures Animation, the Sony label known for “Spider-Man: Into the Spider-Verse” and the “Cloudy With a Chance of Meatballs” franchise.

Source: Los Angeles Times April 08, 2021 17:02 UTC