By Jake Coyle, Film Writer
NEW YORK (AP) --Netflix further beefed up its film catalog on Thursday in a multi-year deal that will make it the new streaming home to Sony Pictures' top releases in the U.S.
Beginning next year, Sony's new films will exclusively stream domestically on Netflix after their theatrical runs. That includes movies in popular franchises like "Spider-Man," "Venom" and "Jumanji," and 2022 releases including "Morbius," "Where the Crawdads Sing," "Uncharted" and "Bullet Train."
The agreement also gives Netflix a first-look option on any films the Culver City, California-based studio elects to send directly to streaming.
In a world of quickly proliferating streaming services, the deal — once the kind that would have typically gone to premium cable networks — is an anomaly. Sony is the only traditional Hollywood studios without a streaming service of its own. The Walt Disney Co. has Disney+, Warner Bros. has HBO Max, Universal Pictures has Peacock and Paramount Pictures has Paramount+.
Wednesday's deal replaces a long-running agreement between Sony and Starz. Financial terms weren't disclosed. During the pandemic, Sony previously sold to Netflix Kevin Hart's "Fatherhood," "The Mitchells Vs. The Machines" and "Wish Dragon." It also sent "Greyhound" to Apple TV+ and "American Pickle" to HBO Max.
"Sony Pictures is a great partner and we are thrilled to expand our relationship through this forward-thinking agreement," said Netflix global film head Scott Stuber. "This not only allows us to bring their impressive slate of beloved film franchises and new IP to Netflix in the U.S., but it also establishes a new source of first run films for Netflix movie lovers worldwide."
In the increasingly competitive streaming landscape, the deep-pocketed Netflix has been aggressively expanding its film library. The streaming service plans to release more than one film a week this year. It also recently acquired the rights to multiple "Knives Out" sequels in a deal that reportedly exceeds $450 million.
SCHROM x Yacht Club and Be Electric Studios Launch Electric XR for Virtual Production
SCHROM x Yacht Club, a full-service live-action, tabletop, and postproduction company, has teamed with Be Electric Studios, a soundstage, equipment rental, and virtual production company, to launch Electric XR, a virtual production collective.
Industry veteran Thomas Rossano will lead the new venture, which provides advanced virtual production solutions across multiple facilities. He brings over 25 years of experience in live-action, tabletop, postproduction and talent curation to enhance Electric XR’s offerings as a resource for brands and agencies, as well as other production companies in need of virtual production solutions. Additionally Rossano continues to serve as EP at XR New York (XR-NY), a role he’s held since December 2022. SCHROM x Yacht Club originally established XR-NY to help provide XR services for third-party rentals. While XR-NY will continue to function independently for SCHROM X Yacht Club, it now operates under the Electric XR umbrella.
Rossano’s expertise spans producing live-action commercials, branded content, interactive and experiential content. In addition to leading Electric XR, he holds responsibilities at SCHROM x Yacht Club which include driving business development, collaborating with sales reps and expanding the company’s creative talent network. Rossano’s career includes serving as an exec producer at Hungry Man for about 11 years, right from that company’s inception. He then went on to become a partner at Station Film where he also had a lengthy tenure. Later he was a partner at PRISM. Then after the pandemic hit, he became a freelance EP for nearly two years, looking into opportunities in virtual production, which led him to XR NY and now Electric XR. Over the years, he has produced high-profile... Read More