Netflix, Inc. (NASDAQ: NFLX) and The Walt Disney Company (NYSE: DIS) appear to be rekindling at least some of their prior relationship. Disney Studios has just announced a multi-year premium Pay TV window agreement in the United States. The deal will allow Netflix subscribers to watch films from Disney, Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios and Disney nature. It may not matter to the trading community, but financial terms of this deal were not disclosed.
Today’s agreement makes Netflix the exclusive U.S. subscription television service for first-run live-action and animated feature films from The Walt Disney Studios. It says. “Beginning with its 2016 theatrically released feature films, new Disney, Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios and Disneynature titles will be made available for Netflix members to watch instantly in the pay TV window on multiple platforms, including television, tablets, computers and mobile phones.”
Included in the agreement are high-profile Disney direct-to-video new releases, which will be made available on Netflix starting in 2013. Separately, Disney and Netflix have reached agreement on a multi-year catalog deal for many Disney classics. The announcement keeps referring to a Pay TV Window so we would caution against thinking that this is a redo of the prior deal under Starz.
Netflix shares are up almost 10% at $83.50 today against a 52-week range of $52.81 to $133.43. If Carl Icahn has not already sold out from his activist efforts, he might want to consider it now.
JON C. OGG
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