Netflix completes streaming deal with Relativity

Netflix is partnering with Relativity Media to offer its customers some of the studio's major theatrical releases for streaming during the "pay TV window." More details from the press release follow below:

Among the first wave of films covered under the Netflix-Relativity deal are upcoming flicks "The Fighter" (with Christian Bale, Mark Wahlberg) "Skyline," "Season of the Witch" (Nicolas Cage) and "Movie 43."

Fifty Relativity films have become "Top 10" box office releases during the past two years. Current Relativity theatrical releases include "Robin Hood," "Get Him to the Greek" and "Grown Ups."

Broadening the range and appeal of content available for Netflix members to watch instantly is among the company's top priorities, and the agreement with Relativity is a meaningful step in building the company's streaming offer.

"Our continued goal is to expand the breadth and timeliness of films and TV shows available to stream on Netflix," said Ted Sarandos, chief content officer for Netflix.  "Historically, the rights to distribute these films are pre-sold to pay TV for as long as nine years after their theatrical release.  Through our partnership with Relativity, these films will start to become available to our members just months after their DVD release."

Added Mr. Sarandos:  "Relativity has produced and financed some of the biggest and best films released in the last few years. We are thrilled to partner with them on their exciting upcoming slate of films and to be part of each other's ongoing success."

"We have always been about finding new ways to grow and monetize our business," said Ryan Kavanaugh, Relativity's CEO. "This clearly is a natural step in the evolution of the movie business and opens up a whole new world of revenue and marketing opportunities. Netflix has certainly made its mark, with a service that reaches over 13 million people and allows consumers to have what they want, when they want it. We have a shared vision, and this deal marks a significant change in our industry."

"Consumer demand and interest in new platforms are evolving nearly as quickly as the technology," said Michael J. Joe, Relativity's president.  "The growing number of Netflix subscribers streaming first run movies is very exciting and presents another viable option for us to maximize the long-term business behind our properties. We're delighted to partner with them on this incredible new opportunity, which has great promise for our industry-reshaping Pay TV deals going forward."