MUMBAI: Netflix, Inc and Nu Image/Millennium Films have inked a long-term agreement through which first-run theatrical films distributed by the Nu Image/Millennium Group will be licensed to Netflix for streaming over the Internet to its subscribers during the "pay TV window." Historically, these films have been licensed to premium TV channels.
The deal underscores how Netflix is moving rapidly to expand both the variety and timeliness of movies and TV episodes available to be watched instantly by its members. The companies said they expect five to 10 theatrical films per year to flow to Netflix through the agreement, in general just a few months after their release on DVD.
Nu Image and Millennium Films are best known for big budget action/thriller movies including: The Expendables, John Rambo, Brooklyn’s Finest, Righteous Kill, 16 Blocks and Black Dahlia.
"We are delighted to be in business with Netflix. This is a groundbreaking deal for our new releases and library titles. It will allow us to be more aggressive with theatrical releases and will clearly impact our distribution model. We will be producing more great films for Netflix," said Nu Image/Millennium co-chairman Avi Lerner.
"Avi Lerner and Nu Image have a remarkable track record of producing crowd pleasing and profitable films. Their ability to work across multiple studios and maintain a consistent output of diverse and successful films makes Avi and his company perfect Netflix partners for theatrical features in the pay TV window," said Netflix chief content officer Ted Sarandos.