Netflix Forms $7 Billion Alliance with Sony, Building an Unrivaled "Content Empire"

Exclusive Global Rights to Spider-Man, Zelda, and More
Another Major Deal Following Warner Acquisition... Cementing an Unrivaled Lead

Just one month after announcing the "merger of the century" with Warner Bros. Discovery last month, Netflix has made another bold move. This time, its partner is Sony Pictures Entertainment.

On January 15 (local time), Netflix announced that it had signed a multi-year exclusive streaming license agreement with Sony. The core of this deal is securing the "global Pay-1" rights, which allow Netflix to be the first and only online video service (OTT) platform to release Sony's films after their theatrical and video-on-demand (VOD) runs. Previously, Netflix's exclusivity was limited to certain countries such as the United States and Germany, but this has now been expanded worldwide.

The new agreement will take effect sequentially in countries where regional licenses expire at the end of this year. As a result, by early 2029, Netflix will have exclusive rights to Sony's new releases in every country around the world.

The lineup Netflix has secured is impressive. It includes the film adaptation of Kristin Hannah's best-selling novel "The Nightingale," the live-action film based on the Nintendo game "The Legend of Zelda," the hit animated film "Spider-Man: Beyond the Spider-Verse," and director Sam Mendes's four-part Beatles biopic series, among many of Sony's key intellectual properties (IP).

Lauren Smith, Netflix's Chief Content Officer (CCO), expressed confidence, stating, "By providing our global members with exclusive access to Sony's films, we have dramatically increased the value of our subscription."

The two companies did not disclose specific contract terms. However, Hollywood media outlets such as Deadline and Variety estimate that the deal exceeds 7 billion dollars (approximately 10.3 trillion won), making it the largest Pay-1 agreement in history.

Industry experts say that following last month's acquisition of Warner Bros. Discovery's business unit for 82.7 billion dollars (approximately 121.5 trillion won), Netflix has now built an alliance with Sony, creating an unrivaled "content wall" that competitors cannot match. Analysts note that Netflix is widening the gap with other platforms by leveraging its overwhelming capital to absorb the libraries of major studios.