Netflix to pay $30 million per film to stream Dreamworks movies

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The deal marks the first time a company has chosen a streaming solution over pay-per-view in the US

Netflix

Netflix has agreed a deal with Dreamworks Animation for the rights to stream the company's movies.

The streaming company will pay $30 million per film, over a number of years, to stream films such as Antz, Kung Fu Panda and Shrek.

The deal marks the first time that a major Hollywood Studios has chosen a streaming service over pay TV in the US.

Netflix recently announced that it had separated its streaming and DVD rental businesses, and renamed its DVD rental service, pointing towards a new focus for the company.

The company, still due to launch in the UK in 2012, expects to have 24 million subscribers by the end of Q3 this year.

The New York Times quoted Ted Sarandos, Netflix chief content officer, saying: "This is one of the few family entertainment brands that matter.

It's also a signal to people that we are in no way moving away from movies. Our programming is just reflecting more and more what people want."

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Joe Cox
Joe Cox
Content Director

Joe is the Content Director for What Hi-Fi? and Future’s Product Testing, having previously been the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across the print magazine and website for almost 20 years, writing news, reviews and features on everything from turntables to TVs, headphones to hi-fi separates. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung; reported from CES, the Bristol Show, and Munich High End for many years; and written for sites such as the BBC, Stuff, and the Guardian. In his spare time, he enjoys expanding his vinyl collection and cycling (not at the same time).