Netflix Inc (NASDAQ: NFLX) has extended an agreement with Comcast Corporation’s (NASDAQ: CMCSA) Universal Filmed Entertainment Group that will give the streaming service exclusive U.S. rights to the latter’s animated feature films.
What Happened: Variety reports that under the terms of the agreement, Netflix will gain access to these titles after they play on a four-month window on Peacock, Comcast’s streaming service. The new pact comes in addition to an earlier agreement with Illumination, a Universal-owned studio, and will now include the company’s DreamWorks Animation output.
The financial terms of the agreement weren’t disclosed. Among the upcoming Universal films to be shown on Netflix are “Puss in Boots: The Last Wish,” “The Bad Guys” and “Minions: The Rise of Gru,” which are all scheduled for 2022 releases.
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What Else Happened: The new agreement will also enable Netflix to license rights to the full animated and live-action slate from Universal Filmed Entertainment Group four years after release while granting the streamer service rights to select titles from Universal’s movie library.
The new agreement follows the decision by Comcast to move its pay-one window for Universal’s feature films from HBO, a subsidiary of AT&T (NYSE: T) to Peacock; Universal’s films were released on HBO since 2005.
Photo: Scene from the upcoming “Puss in Boots: The Last Wish” courtesy of Universal.
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