LOS ANGELES – Netflix has signed a multi-year deal with DreamWorks Animation making it the exclusive subscription television service for first-run feature films and select television specials from the Hollywood animation studio, maker of successful movie franchises like Shrek, Madagascar, and Kung Fu Panda.
Financial terms of the agreement were not disclosed, though analysts estimated that it could be worth $30 million per picture to DreamWorks. Beginning with its 2013 feature films, new DreamWorks Animation titles will be streamed to Netflix members in the U.S. only within the pay TV window on platforms that include television, tablet, computer, and mobile phones. Popular catalogue titles such as How To Train Your Dragon, Chicken Run and Antz will also be made available to Netflix members “over time”, according to the announcement.
“DreamWorks Animation is one of the few family entertainment brands that really matters”, said Netflix chief content officer Ted Sarandos, in a statement. “This agreement strengthens the lineup of great family content Netflix members will be able to watch instantly and also increases the number of hit first-run films we’ll have available in the pay TV window."
The partnership replaces a prior agreement DreamWorks Animation had with HBO. CEO Jeffrey Katzenberg described Netflix as “an innovative brand with an impressive track record for attracting high-quality content providers to its service”.
"This arrangement allows us to get more value for our content while giving us a greater degree of flexibility in how we distribute it across multiple platforms in today’s evolving digital world", Katzenberg said.
