Netflix & Miramax To Sign Streaming Deal

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It’s been a big week for Netflix streaming news. And now, here’s something else! Netflix is close to signing a deal with Miramax. That’s according to sources “familiar with the deal” who have talked to the Wall Street Journal. Miramax is a movie studio that was, until recently, owned by Disney. Their library includes films like There Will Be Blood, No Country For Old Men, Trainspotting, among others.

The terms for the deal which would see Netflix getting the rights to stream Miramax films to users on their Instant Watch service would be $100 million for 5 years. That dwarfs Netflix’ first streaming deal, which was made with premium cable network Starz in 2008. That deal was for $30 million for 5 years, and has since been considered a “steal” for Netflix by industry types. Since then, the movie and TV studios have waged a way against Netflix and their exploding popularity. Miramax is said to be sending their entire library to Netflix, which is unusual, as usually movie studios don’t let their best or newest stuff onto the Netflix Instant Watch streaming service.

Miramax, which as aforementioned, is under new ownership from Disney. They are said to be in talks with Facebook and Amazon. Amazon refused to talk to the WSJ, but comments from Facebook reps seem to indicate that we could see Miramax renting movies on Facebook like Warner Bros. did with The Dark Knight a few weeks ago.

This report is unconfirmed by both Miramax and Netflix when the ‘Journal attempted to contact them.

Other recent Netflix streaming news is that the company is going to be producing their own content, Showtime will be yanking their first-run content from the streaming service, and that Starz will delay their first-run content up to 90 days before allowing it on Netflix.