Netflix has announced it has signed a multi-year agreement with Miramax to bring hundreds of films to its "Watch Instantly" streaming library. A few of the more recognizable films in the catalog are "Pulp Fiction," "Shakespeare in Love," "The English Patient," "Good Will Hunting," "Bad Santa," "Scream," "Spy Kids," "The Piano" and "Kill Bill."
Starting in June, Miramax will add dozens of titles at a time "on a rotating basis."
The financials were not revealed but Netflix is expected to be paying over $100 million.
Says Netflix COO Ted Sarandos:
Netflix is thrilled to enter into this deal with the new team at Miramax. Existing relationships with management and a shared affinity for these great films make this an important deal for both companies and for our members, who will enjoy instantly watching movies from one of the truly great film libraries for many years to come.
And adds Miramax CEO Mike Lang:
From day one, we've been very clear about the importance of digital and our desire to respond to the significant pent-up demand for our films -- delivering to consumers whenever and wherever they want. This agreement is an important first step in our digital strategy. Netflix has always been a trailblazer, with a tremendous track record of innovation and quality customer service. We're thrilled to now be in business with them as we build and revitalize the proud Miramax brand.
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