Netflix Announces Strategic Multi-Year Agreement With Miramax
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.
With more than 23 million members in the United States and Canada, Netflix, Inc. [Nasdaq: NFLX] is the world’s leading Internet subscription service for enjoying movies and TV shows. For $7.99 a month, Netflix members can instantly watch unlimited movies and TV episodes streamed over the Internet to PCs, Macs and TVs. Among the large and expanding base of devices streaming from Netflix are Microsoft’s Xbox 360, Nintendo’s Wii and Sony’s PS3. consoles; an array of Blu-ray disc players, Internet-connected TVs, home theater systems, digital video recorders and Internet video players; Apple’s iPhone, iPad and iPod touch, as well as Apple TV and Google TV. In all, more than 200 devices that stream from Netflix are available in the U.S. and a growing number are available in Canada.
Miramax is a leading worldwide film and television studio with a library of more than 700 motion pictures. Miramax sells directly and licenses its titles globally through partnerships and digital alliances. The company has three new releases in 2011: The Debt, starring Helen Mirren and Sam Worthington; the Guillermo del Toro-produced Don’t be Afraid of the Dark, starring Katie Holmes and Guy Pearce; and Last Night, starring Keira Knightley, Sam Worthington and Eva Mendes. The Miramax library holds some of the world’s most original and acclaimed independent films including Pulp Fiction, Shakespeare In Love, Chicago, Good Will Hunting, The English Patient, No Country for Old Men, Kill Bill Volumes I and II, Life is Beautiful, Reservoir Dogs, Sex, Lies, and Videotape, Cinema Paradiso and My Left Foot — as well as scores of commercially successful films such as Bridget Jones’s Diary, Bad Santa, and the Scream, Hellraiser, Scary Movie and Spy Kids franchises. Collectively, the Miramax library has received 284 Academy Award nominations and 68 Oscars, including four Best Picture Awards. Miramax is headquartered in Santa Monica, California. For more information, please visit www.miramax.com
SOURCE Netflix, Inc.