Netflix and Universal Renew Licensing Deal, Adding Live-Action Films Starting in 2027 Amid $126 Billion Content Spending in 2024, Disney $35.8 Billion

Oct 29, 2024, 04:56 PM

In a significant move within the entertainment industry, Netflix and Universal Pictures have renewed their licensing agreement, which now includes U.S. rights to live-action films beginning with the 2027 slate. This expansion of their partnership also continues their existing agreement for animated titles, including those from DreamWorks and Illumination. Under the terms of the renewed deal, Netflix will gain access to Universal Pictures and Focus Features’ live-action films no later than eight months after their theatrical release. This announcement comes amid a broader trend in which the six largest global content companies, including Disney, Comcast, Google, and Warner Bros. Discovery, are projected to collectively spend a record $126 billion on content in 2024, marking a 9% increase from the previous year. Disney is expected to lead this spending with an estimated $35.8 billion, boosted by its full acquisition of Hulu, which added $9 billion to its total content expenditure.