Multi-year deal gives Disney access to Sony's library, and rights to new movies after they stream on Netflix.
"Spider-Man" could soon join the Marvel Cinematic Universe -- at least in terms of where it streams.
Walt Disney Co. $(DIS)$ and Sony Pictures announced a multi-year licensing deal Wednesday giving Disney streaming rights for upcoming Sony movies after their initial runs on Netflix Inc. $(NFLX)$, starting in 2022 and running through 2026. Financial terms were not disclosed.
The deal also grants Disney access to Sony's library of movies, including the popular "Spider-Man" series. While the character Spider-Man has appeared in Disney's "Avengers" movies, the "Spider-Man" franchise is a separate entity owned by Sony.
While it is unclear exactly which Disney entities Spidey and other Sony movies will end up streaming on, Disney+ is home to the rest of the blockbuster Marvel-movie franchise. Disney-controlled Hulu will also get "a significant number of library titles" as soon as June, the companies said. Sony releases will also be seen on Disney's ABC, Disney Channels, Freeform, FX and National Geographic channels.
Other popular Sony franchises include "Jumanji" and "Hotel Transylvania," as well as Marvel movies such as "Venom" and the upcoming "Morbius."
"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," Disney executive Chuck Saftler, who helped negotiate the deal, said in a statement.
Earlier this month, Sony and Netflix announced a deal giving the streaming giant first crack at streaming Sony's theatrical releases, for around 18-month windows. Under Wednesday's deal, Disney would get the streaming rights to new releases after Netflix's exclusive window ends.
Disney shares are up 1% year to date, and up 81% over the past 12 months. American Depository Receipts of Sony Corp. (6758.TO) are up 7.3% this year, and up 73% over the past year.