Netflix extends Universal deal to license Illumination and Dreamworks films
Netflix will license rights to Universal’s fully-animated and live-action slate of films about four years after their release as well as the rights to other select titles.
Netflix extends deal with Comcast's Universal Pictures to license all animation films and series under the Dreamworks and Illumination brands.
Netflix Inc and Comcast Corp’s Universal Pictures are extending a multi-year exclusive rights deal in the US for animated film franchises such as “Minions” and “Puss in Boots”, the streaming giant has said.
The streaming company further said on Tuesday it would license the rights to Universal's full-animated and live-action slate of films about four years after their release as well as the rights to other select titles.
Netflix's rights to stream these popular movies, which are made by Universal's Illumination and DreamWorks Animation studios, will begin after a four-month window on Peacock, Comcast's in-house streaming service.
Following the Pay 1 deal with Amazon, Universal now doing a similar licensing deal for their animated studios, with the first and last 4 months on Peacock, and the interim period on Netflix. $CMCSA $NFLX $DIS $VIAC $LGF $T $DISCA pic.twitter.com/f6tmOnH0gA
— Tavish ZM (@TZM_TMT) July 13, 2021
Netflix currently streams movies including "Despicable Me" and "The Grinch" from Universal's Illumination studios.
The deal should help Netflix keep the kids subscriber base hooked and comes at a time when studios such as Disney are holding back on selling rights to streamers to boost their own platforms.
Comcast last week said that Universal's new movies would exclusively go to Peacock no later than four months after they debut in theaters.
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