Netflix and Sony Strike Industry-First Global Pay-1 Licensing Pact

Netflix and Sony Pictures Entertainment have sealed an industry-first global Pay-1 licensing deal worth over $7 billion, extending SPE titles to Netflix worldwide after their theatrical and home-entertainment windows, with rollout starting later this year and full global availability by 2029–2032. The pact boosts SPE’s international Pay-1 value (about 40%), continues SPE’s existing film/TV licensing framework, and includes titles like The Nightingale, It Ends With Us, Anyone But You, and Spider-Man: Beyond the Spider-Verse, while aligning with Netflix’s broader strategy to secure third-party content (alongside ongoing deals with Universal) under a multi-year global licensing framework.