Netflix obtains exclusive rights to stream Disney movies
Netflix has obtained the exclusive U.S. rights to stream Disney movies as soon as they leave theaters.
Financial terms weren’t disclosed, but analysts estimate that Netflix will pay Disney more than $350 million annually, according to CBS News.
Netflix can start showing the movies about seven months after they leave the movies and can last up to 18 months.
The agreement starts with movies released in 2016, but also gives Netflix immediate access to older classics such as “Dumbo,” and new direct-to-video releases in 2013. The deal does not include movies from “Star Wars” creator Lucasfilm Ltd., which Disney is buying for $4.05 billion and doesn’t yet own, according to Bloomberg News.
It’s the first time that one of Hollywood’s major studios has sold the coveted first-run rights to Netflix Inc. instead of a premium TV network.
