Netflix currently has Pay-1 rights, the industry’s term for the post-theatrical and on-demand window, in the United States, Germany and across Southeast Asia. The new arrangement won’t come into full effect until early 2029, but it’ll start later in 2026 as individual territory rights become available. As part of this pact, Netflix will also license rights to select Spe feature film and television library titles.
The financial terms of the agreement are not being disclosed, but sources suggest it is worth above $7 billion, by all appearances the largest-ever Pay-1 deal. Netflix and Sony’s initial five-year deal for domestic rights was worth $2.5 billion.
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