Around the Net
Miramax Cuts Deal With Netflix
- Gizmodo, Monday, May 16, 2011 12:14 PM
Marking its first content deal with a digital subscription service, Miramax has agreed to distribute "several hundred" movies through Netflix. And not a moment too soon! All too often, Gizmodo writes, "Netflix Watch Instantly seems like an endless stream of Daddy Daycare sequels, as more and more studios strip away the good stuff." "This agreement is an important first step in our digital strategy," Miramax CEO Mike Lang said in a statement.
"Lang didn't go any further on Miramax's digital plans," CNet reports. "However, back in March, when rumors of the studio inking a deal with Netflix first cropped up, The Wall Street Journal reported that Miramax was also in talks with Amazon and Facebook to bring its streaming library to those services.
A huge win for Netflix in its war against Hulu and other streaming media rivals, the company "continues to add programming strength to its digital service," paidContent notes. Meanwhile, "Netflix and Miramax aren't talking details but my understanding is the multi-year package could be worth more than $100 million to the studio." Writes Engadget: "The benefit to you, dear subscriber, is pretty obvious."
"This partnership is just the latest content deal for Netflix," writes Mashable. "In April, the company signed a multi-year deal with Lionsgate to bring programming ... to the instant streaming service. CBS and Disney have also signed multi-year agreements with the service."
Bigger picture, "The latest agreement comes as media chiefs are beginning to shift their public stance toward [Netflix] by trying to convince investors that the video streaming service will expand their business rather than destroy it," The Wall Street Journal writes.
That said, This latest "deal is nonexclusive and doesn't cover new titles, since the holding company that owns Miramax hasn't made any movies since it bought the library from Disney last year," reports MediaMemo.
