In the bidding war for exclusive streaming rights, Netflix appears to have just hit gold.
As reported by Indiewire, Netflix and The Weinstein Co. have just signed into action a multi-year licensing deal that will make Netflix the exclusive avenue to stream all releases from both The Weinstein Co. and Dimension Films following the films’ theatrical runs.
The agreement is set to commence beginning in 2016.
“The deal that we’ve just completed with Netflix is probably the biggest deal in the history of The Weinstein Company and together, we are discussing ways to reinvent the pay TV experience so that the audience can get even more for their money,” Harvey Weinstein said in the article. “Their enthusiasm for movies of all kinds was the big factor in our choosing Netflix. Moving forward when people see The Weinstein Company name on a movie they know that our pay TV partner is the most significant new force in the entertainment industry – Netflix.”
Deadline reports that, in the hours since the announcement, stock in Netflix has risen nearly nine points from yesterday, a nearly 500 million-dollar increase in market value.