Netflix, Sony Pictures strike first-of-its-kind global Pay-1 deal

CALIFORNIA: Netflix has struck a landmark global Pay-1 licensing agreement with Sony Pictures Entertainment, securing exclusive worldwide streaming rights to Sony’s feature films after their full theatrical and home entertainment runs. The deal marks the first time a Pay-1 window has been locked in on a truly global basis.

Under the multi-year agreement, Sony’s films will roll out on Netflix territory by territory from later this year, with full global availability expected by early 2029 as existing rights expire. Netflix will also license selected Sony feature film and television library titles as part of the package.

Netflix already holds Pay-1 rights to Sony films in several markets, including the United States, Germany and parts of Southeast Asia. Titles under the current arrangement include Uncharted, Spider-Man: Across the Spider-Verse, It Ends With Us, Anyone But You and Venom: The Last Dance.

“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,” said Lauren Smith, vice president of licensing and programming strategy at Netflix. “Sony’s impressive slate of iconic film franchises like Spider-Man: Across the Spider-Verse and originals like Anyone But You have been popular with our US audience and now we’re excited to expand that offering to our members all around the world.”

Sony said the agreement deepens a partnership that has already proved lucrative while preserving its studio independence.

“Our partnership with Netflix has always been incredibly valuable,” said Paul Littmann, evp of global distribution at 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.”

Early films slated to land on Netflix under the new deal include The Nightingale, the adaptation of Kristin Hannah’s novel starring Dakota and Elle Fanning; Sony Pictures Animation’s Buds; Nintendo’s live-action The Legend of Zelda; Spider-Man: Beyond the Spider-Verse; and Sam Mendes’ quartet of Beatles films.

For Netflix, which counts more than 300 million paid memberships worldwide, the agreement bolsters its film slate at a time when competition for premium studio content is intensifying. For Sony, it locks in a global streaming home without building one of its own.

In an industry obsessed with windowing and territory carve-outs, the deal redraws the Pay-1 map. Netflix gets global scale. Sony keeps its independence. Hollywood’s old rules just got a little looser.