DreamWorks Animation finalizes Netflix streaming deal!
DreamWorks Animation has finalized a deal that marks the first time a major Hollywood studio has gone with streaming over network TV. THR reports that DWA has finalized a deal with Netflix for films and TV specials. The deal has been in the works for months and will pay DreamWorks $30 million per movie for an "unspecified" amount of time. HBO let DreamWorks out of their contract two years early, and this new deal will serve as a replacement.
Jeffrey Katzenberg state, “We are really starting to see a long-term road map of where the industry is headed. This is a game-changing deal.”
Netflix's Ted Sarandos added: “You’re seeing power moving back into the hands of content creators. When a company like DreamWorks ends a long-running pay TV deal — when a new buyer in the space steps up -- that’s a really interesting landscape shift.”
The new deal begins in 2013, with three movies streaming that year: The Croods; Turbo, which centers on a snail; and Peabody & Sherman, featuring the famous Rocky and Bullwinkle characters. Kung Fu Panda and Antz will also become available at a later date.
This type of deal is a no-brainer for Netflix. They need to continue to push for more streaming content deals to compete. As a fan of Netflix's streaming this deal sounds great to me, hopefully there is more to come. What are your thoughts?