Netflix and Universal Renew Licensing Deal, Adding Live-Action Films Starting in 2027; Combined $126 Billion Content Spend in 2024

Oct 29, 2024, 04:33 PM

Netflix and Universal Pictures have renewed their licensing agreement, expanding it to include U.S. rights for live-action films starting in 2027. The deal allows Netflix to stream live-action films from Universal Pictures and Focus Features no later than eight months after their theatrical release. This renewal comes alongside a significant investment in content by major media companies, with Netflix, Disney, Comcast, Google, Warner Bros. Discovery, and Paramount expected to spend a combined $126 billion on content in 2024. The existing agreement for animated titles will remain intact, while the new terms will enhance Netflix's film offerings as it continues to compete in the streaming market.