Netflix continues to strengthen its catalogue of movies available on their streaming service. Starting in June, Netflix subscribers will have access to hundreds of Miramax films, with dozens of titles available on a rotating basis. This is the first time Miramax films will be available on a digital subscription service, and in another first, this deal is the first major deal Miramax has made since Disney sold the studio to a group of investors. The financial terms of the multi-year agreement were not disclosed, but rumors suggest that a term of five years and a price of $100 million may have been what sealed the deal.
With the addition of Miramax films, Netflix users will have access to some award-winning and fan-favorite material without having to wait on the post office, such as Pulp Ficton, Good Will Hunting, Scream, Spy Kids, Kill Bill, Shakespeare in Love, and The English Patient, among others. Not only is this deal a win for Netflix due to the high quality of movies they managed to obtain, but it comes at a time when stiffer competition for everyone’s favorite movie streaming service is just over the horizon.
Netflix Announces Strategic Multi-Year Agreement With Miramax
Netflix Members Can Instantly Watch Hundreds of Iconic Miramax films, Including such classics as “Pulp Fiction,” “Shakespeare in Love,” “The English Patient,” “Good Will Hunting,” “Bad Santa,” “Scream,” “Spy Kids,” “The Piano” and “Kill Bill”
BEVERLY HILLS, Calif. and SANTA MONICA, Calif., May 16, 2011 /PRNewswire/ — Netflix, Inc. (NASDAQ: NFLX) and Miramax today announced a multi-year agreement under which Netflix members in the U.S. will be able to instantly watch some of the world’s most loved and acclaimed motion pictures from the Miramax film library. It is the first time Miramax titles have become available through a digital subscription service.
Beginning in June, Netflix members in the U.S. will be able to instantly watch several hundred Miramax movies, with dozens of titles being added on a rotating basis. The movies can be watched on multiple platforms, including TV, tablet, computer and mobile phones. Financial terms of the deal are not being disclosed.
“Netflix is thrilled to enter into this deal with the new team at Miramax,” said Netflix Chief Content Officer Ted Sarandos. “Existing relationships with management and a shared affinity for these great films make this an important deal for both companies and for our members, who will enjoy instantly watching movies from one of the truly great film libraries for many years to come.”
“From day one, we’ve been very clear about the importance of digital and our desire to respond to the significant pent-up demand for our films — delivering to consumers whenever and wherever they want,” said Mike Lang, CEO of Miramax. “This agreement is an important first step in our digital strategy. Netflix has always been a trailblazer, with a tremendous track record of innovation and quality customer service. We’re thrilled to now be in business with them as we build and revitalize the proud Miramax brand.”
Through this partnership, the Netflix library gains a variety of films which collectively have 284 Academy Award nominations, across 83 films, with 68 wins, including the Best Picture winners “The English Patient” and “Shakespeare in Love.” Iconic titles such as “Bad Santa,” “Chasing Amy,” “Cinema Paradiso,” “Clerks,” “Cold Mountain,” “From Dusk Till Dawn,” “Good Will Hunting,” “Kill Bill” Volumes I and II, “Muriel’s Wedding,” “The Piano,” “Pulp Fiction,” “Reindeer Games” and many of the “Halloween,” “Scary Movie,” “Scream” and “Spy Kids” movies will be available over time.
(paidContent via Techmeme, press release via Engadget)
