The Walt Disney Company and Sony Pictures Entertainment announced a huge content licensing agreement.
The agreement gives Disney U.S. streaming and TV rights to all of Sony’s new theatrical releases between 2022 and 2026. That means Disney will be airing Sony produced content on their Disney+ and Hulu streaming platforms as well as on their network channels like ABC, the Disney Channels, Freeform, FX, and National Geographic.
A press release from Disney details that “the deal covers theatrical releases from 2022-2026 and begins for each film following its Pay 1 TV window.”
Not only does this new deal give Disney rights to Sony’s theatrical releases, but it also grants them rights to Sony Pictures Entertainment extensive content library that includes Jumanji, Hotel Transylvania, the Spider-Man movies.
Disney details “the agreement provides Hulu access to a significant number of library titles beginning as early as this June.”
Chuck Saftler the head of Business Operations for ABC, Freeform, FX Networks, and Acquisitions in DMED’s Networks division stated, “This landmark multi-year, platform agnostic agreement guarantees the team at Disney Media and Entertainment Distribution a tremendous amount of flexibility and breadth of programming possibilities to leverage Sony’s rich slate of award-winning action and family films across our direct-to-consumer services and linear channels.”
Saftler added, “This is a win for fans, who will benefit from the ability to access the very best content from two of Hollywood’s most prolific studios across a multitude of viewing platforms and experiences.”
Sony Pictures Entertainment’s President of Worldwide Distribution and Networks Keith Le Goy added, “This groundbreaking agreement reconfirms the unique and enduring value of our movies to film lovers and the platforms and networks that serve them.”
Le Goy added, “We are thrilled to team up with Disney on delivering our titles to their viewers and subscribers. This agreement cements a key piece of our film distribution strategy, which is to maximize the value of each of our films, by making them available to consumers across all windows with a wide range of key partners.”
In the press release from Disney they made clear that “financial terms of the agreement were not disclosed.”
The deal comes just a few months after Disney announced they were restructuring their organization to focus on streaming.
In October the company detailed, “In light of the tremendous success achieved to date in the Company’s direct-to-consumer business and to further accelerate its DTC strategy, The Walt Disney Company (NYSE: DIS) today announced a strategic reorganization of its media and entertainment businesses.”
They added, “Under the new structure, Disney’s world-class creative engines will focus on developing and producing original content for the Company’s streaming services, as well as for legacy platforms, while distribution and commercialization activities will be centralized into a single, global Media and Entertainment Distribution organization.”
What do you make of this new deal between Sony and The Walt Disney Company?