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Netflix extends deal for animation films with Universal Pictures

Netflix extends deal for animation films with Universal Pictures
Netflix extends deal for animation films with Universal Pictures   -   Copyright  Thomson Reuters 2021
By Reuters

– Netflix Inc and Comcast Corp’s Universal Pictures are extending a multi-year exclusive rights deal in the United States for animated film franchises such as “Minions” and “Puss in Boots”, the streaming giant said on Tuesday.

Netflix’s rights to stream these popular movies, which are made by Universal’s DreamWorks Animation studios, will begin after a four-month window on Peacock, Comcast’s in-house streaming service.

Netflix currently streams movies including “Despicable Me” and “The Grinch” from Universal’s Illumination studios.

The streaming company added it would license the rights to Universal’s full-animated and live-action slate of films about four years after their release as well as the rights to other select titles.

The deal should help Netflix keep the kids subscriber base hooked and comes at a time when studios such as Disney are holding back on selling rights to streamers to boost their own platforms.

Comcast last week said that Universal’s new movies would exclusively go to Peacock no later than four months after they debut in theaters.