Miramax Films has signed a multi-year agreement with Netflix to allow the streaming of their vast library of films via the Instant Watch service. Reportedly a $100 million deal, Miramax decided to go with a larger payment from Netflix to assure a non-exclusive deal, so they can go sign agreements with other streaming services, such as Hulu, Google and Amazon’s services.
It’s an exciting deal, due to the fact that Miramax has such a fantastic library of films that people have been wanting to stream in general. From Quentin Tarantino’s films Reservoir Dogs and Pulp Fiction, Kevin Smith’s favorites Clerks and Criterion’s own Chasing Amy all the way to Oscar winners Shakespeare in Love and The English Patient, there’s tons of genres to choose from to start watching when the deal goes into place, beginning June 1st. So in less than 2 weeks, Netflix subscribers will have even more to choose from for their instant queues.
Mike Lang, Miramax Chief Executive, has been mentioning he wanted a deal such as this since December, when he took over the company with a group of investors. He has mentioned this was a top priority, because it was time to start generating additional revenue from the Miramax Films’ library.
Which films from Miramax’ library will you be adding to your instant queue? Do you think this is a perfect match? Let us know in the comments below.
From the press release:
Netflix Announces Strategic Multi-Year Agreement With Miramax
Netflix Members Can Instantly Watch Hundreds of Iconic Miramax films, Including such classics as “Pulp Fiction,” “Shakespeare in Love,” “The English Patient,” “Good Will Hunting,” “Bad Santa,” “Scream,” “Spy Kids,” “The Piano” and “Kill Bill”
BEVERLY HILLS, Calif. and SANTA MONICA, Calif., May 16, 2011 /PRNewswire/ — Netflix, Inc. (NASDAQ: NFLX) and Miramax today announced a multi-year agreement under which Netflix members in the U.S. will be able to instantly watch some of the world’s most loved and acclaimed motion pictures from the Miramax film library. It is the first time Miramax titles have become available through a digital subscription service.
Beginning in June, Netflix members in the U.S. will be able to instantly watch several hundred Miramax movies, with dozens of titles being added on a rotating basis. The movies can be watched on multiple platforms, including TV, tablet, computer and mobile phones. Financial terms of the deal are not being disclosed.
“Netflix is thrilled to enter into this deal with the new team at Miramax,” said Netflix Chief Content Officer Ted Sarandos. “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.”
“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,” said Mike Lang, CEO of Miramax. “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.”
Through this partnership, the Netflix library gains a variety of films which collectively have 284 Academy Award nominations, across 83 films, with 68 wins, including the Best Picture winners “The English Patient” and “Shakespeare in Love.” Iconic titles such as “Bad Santa,” “Chasing Amy,” “Cinema Paradiso,” “Clerks,” “Cold Mountain,” “From Dusk Till Dawn,” “Good Will Hunting,” “Kill Bill” Volumes I and II, “Muriel’s Wedding,” “The Piano,” “Pulp Fiction,” “Reindeer Games” and many of the “Halloween,” “Scary Movie,” “Scream” and “Spy Kids” movies will be available over time.