As digital licensing negotiations heat up, it’s heartening to see Netflix pull another big win from a new deal with Miramax. Netflix announced the multi-year agreement today, which includes instant streaming of a number of movies in the Miramax library, from Academy Award winners like “Shakespeare in Love,” and “The English Patient,” to cult favorites like “Chasing Amy” and “Pulp Fiction.”
The win for Netflix is important for a number of reasons. First, as Will Richmond points out, it shows how big a role movies still play in the Netflix model, even though TV series have gotten more attention of late. Second, the VOD company noted that the deal with Miramax marks the first time Miramax titles have been made available through a digital subscription service, showing that Netflix carries significant clout as a distribution partner. And third, although terms were not disclosed, the agreement shows Netflix can and is willing to compete financially even now that content owners understand that digital delivery doesn’t mean giving away licensing rights for pennies on the dollar. [UPDATE: paidContent is putting the financial terms at likely more than $100 million.]
Miramax films will be available on Netflix starting in June, with titles added on a rotating basis. Streaming access will be available across TVs (presumably through Rokus, game consoles, and more), tablets, computers, and smartphones.