Netflix Acquires Streaming Rights to Dreamworks Over HBO
For the first time, a Hollywood studio has chosen to give a streaming movie service the rights to their film over a cable channel. Starting in 2013, Netflix will be given the exclusive rights to Dreamworks movies over the current rights holder, HBO.
Dreamworks, who has released such animated films as the Shrek and Kung Fu Panda franchises and live action films like Gladiator and American Beauty, have stated that they should be making around $30 million per picture solely on this new deal.
Recently stock for Netflix has fallen, due to awkward handling of their DVD and streaming services together and the creation of new venture Qwikster. However, this new announcement made their stock soar back up.
Dreamworks believes that this new plan is a way of looking to the future and what their audience will want down the road.
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