Movie studio Miramax, which was divested last year by the Walt Disney Co., inked a multiyear pact to provide hundreds of library titles to Netflix subscribers in the U.S. -- the first time Miramax titles have become available through a digital subscription service, according to the companies.
Financial terms of the deal were not disclosed. The deal was to be worth more than $100 million over five years, Reuters reported in March.
Beginning in June, Netflix will offer several hundred Miramax movies, with dozens of titles to be added on a rotating basis. Netflix lets users watch content, streamed over the Internet, on more than 200 different devices.
The Miramax titles under the deal include two Academy Award winners for Best Picture, The English Patient and Shakespeare in Love. Others include Bad Santa, Chasing Amy,Cinema Paradiso, Clerks, Cold Mountain, From Dusk TillDawn, Good Will Hunting, Kill Bill Volumes Iand II, Muriel's Wedding, The Piano, Pulp Fiction, Reindeer Games and many of the Halloween, Scary Movie, Scream and Spy Kids movies.
"Netflix is thrilled to enter into this deal with the new team at Miramax," Netflix chief content officer Ted Sarandos said in a statement. "Existing relationships with management and a shared affinity for these great films make this an important deal for both companies and for our members, who will enjoy instantly watching movies from one of the truly great film libraries for many years to come."
Miramax CEO Mike Lang commented, "From day one, we've been very clear about the importance of digital and our desire to respond to the significant pent-up demand for our films -- delivering to consumers whenever and wherever they want. This agreement is an important first step in our digital strategy. Netflix has always been a trailblazer, with a tremendous track record of innovation and quality customer service. We're thrilled to now be in business with them as we build and revitalize the proud Miramax brand."
