Sony Pictures has just struck a Pay-1 deal with Netflix globally, amounting to $7 billion. This deal ensures that all premium Sony Pictures titles, after completing their exclusive theatrical run, will first move to video-on-demand platforms and then stream on Netflix worldwide. A few countries already have this arrangement in place, with more markets set to roll out starting this year. By 2029, the deal is expected to cover every country globally, with Sony licensing its films to Netflix.
The Pay-1 window refers to the first streaming service that gets the right to host content on its platform. It is similar to a world television premiere, except in this case, it is a world OTT premiere. After a fixed duration—usually 12 to 18 months—the same content moves to Pay-2 rights, and eventually makes its way to cable TV and DTH platforms.
Sony has an impressive lineup coming up, including Spider-Man, Anaconda, and Ghostbusters, which will move directly to Netflix—especially in India, where this deal has already been active for the past 4–5 years.
Leadership Quotes
Lauren Smith, Netflix’s Vice President of Licensing and Programming Strategy, said the deal would enhance the platform’s value for subscribers worldwide. "Our members all over the world love movies and giving them exclusive access to Sony’s much loved films adds incredible value to their subscriptions."
She noted that Sony’s film franchises and original titles have performed strongly with U.S. audiences and that Netflix is now looking forward to expanding access globally.
“Our partnership with Netflix has always been incredibly valuable,” said Paul Littmann, EVP of Global Distribution, Sony Pictures Television. “This new Pay-1 deal takes that partnership to the next level and reinforces the enduring appeal of our theatrical releases to Netflix’s global audience. It also further underscores the strength of our independence and unique ability to create meaningful opportunities that benefit our creative stakeholders, consumers, and world-class partners.”
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