Netflix’s path toward becoming a content provider that can grapple with premium TV’s elite took a step forward Tuesday as the video streaming announced a multi-year deal that gives Netflix exclusive rights in the premium pay TV window to first-run feature films from The Weinstein Company, starting in 2016.
Financial terms were not disclosed, but the deal will give Netflix the rights to stream titles from the studio on connected TVs, tablets, smartphones and tablets. Netflix is already the pay TV home to TWC documentaries and foreign films, including 2012 Oscar-winners The Artist (Best Picture) and Undefeated (Best Documentary Feature),as well as to movies released by RADiUS-TWC, a “multi-platform distribution label.”
"Harvey and Bob Weinstein are in a class of their own when it comes to choosing and producing the best films in the world," said Netflix chief content officer Ted Sarandos, in a statement. "They are as innovative in business as they are creative in their storytelling. We look forward to reinventing the pay TV window with the Weinsteins."
"The deal that we've just completed with Netflix is probably the biggest deal in the history of The Weinstein Company and together, we are discussing ways to reinvent the pay TV experience so that the audience can get even more for their money," added Harvey Weinstein, in a statement. "Their enthusiasm for movies of all kinds was the big factor in our choosing Netflix. Moving forward when people see The Weinstein Company name on a movie they know that our pay TV partner is the most significant new force in the entertainment industry - Netflix."
Netflix added 630,000 U.S. streaming subs in the second quarter, extending its domestic total to 29.81 million.