updated 07:30 am EDT, Mon May 16, 2011
Netflix lands Miramax movies
Netflix started off the week Monday by confirming its often rumored deal with Miramax. The content agreement gives it access to hundreds of movies, including Quentin Tarantino movies like the Kill Bill titles, Kevin Smith movies like Clerks, and Oscar winners such as The English Patient. Most will be available as of June, though dozens will come in later on a "rotating basis," Netflix said.
Studio chief Mike Lang saw the move as an opportunity to "build and revitalize" the Miramax badge. The studio bought its catalog out from Disney in 2010 and hasn't produced movies as it reorganized in private form. Although not confirmed with the plans, the deal was rumored to be worth $100 million.
The deal is the first time Miramax titles have reached a subscription movie service and is a significant coup for Netflix. It has spent large sums more recently acquiring TV show rights, including an original series, but has had relatively little success persuading movie studios. It can get major content but often only has a portion of a studio's catalog.
Services like iTunes, which embrace the conventional pay-per-title format movie studios prefer, have often had little trouble getting access. Netflix, however, has dominant market share of Internet video in the US and could be more influential.