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    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
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Sony : pider-Man' and other Sony films to hit Netflix after theaters

04/08/2021 | 02:47pm EDT

April 8 (Reuters) - Streaming service Netflix Inc reached a deal to offer new "Spider-Man" movies and other films from Sony Pictures to U.S. customers after they play in theaters, the companies said on Thursday.

The five-year arrangement will begin with the 2022 slate of movies, which is scheduled to include Marvel film "Morbius," best-selling book adaptation "Where the Crawdads Sing" and Brad Pitt thriller "Bullet Train."

Future releases are expected to include new installments in the Spider-Man, Venom, Jumanji and Bad Boys franchises.

The movies will hit Netflix after they have finished their run in theaters and been made available for home viewing via video-on-demand. That period typically extends for months, though studios have been experimenting with offering films in homes sooner during the COVID-19 pandemic.

Under the new deal, Netflix also will stream some older films from Sony's library, and will have the first chance to pick up any movies that Sony makes directly for streaming.

The world's largest streaming service is looking to bolster its movie offerings as it faces growing competition from Walt Disney Co, AT&T Inc's HBO Max and others.

Financial terms were not disclosed. The cost to Netflix depends in part on how many movies Sony releases and how each film performs at the box office.

Shares in Netflix rose nearly 1.2% to $553.85 in afternoon trading on Nasdaq. (Reporting by Lisa Richwine in Los Angeles and Nilanjana Basu in Bengaluru; Editing by Ramakrishnan M. and Kevin Liffey)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NETFLIX, INC. 4.48% 653.16 Delayed Quote.20.79%
SONY GROUP CORPORATION -1.21% 12665 End-of-day quote.23.14%
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Analyst Recommendations on SONY GROUP CORPORATION
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Financials
Sales 2022 9 773 B 85 745 M 85 745 M
Net income 2022 778 B 6 827 M 6 827 M
Net cash 2022 787 B 6 903 M 6 903 M
P/E ratio 2022 20,2x
Yield 2022 0,50%
Capitalization 15 708 B 138 B 138 B
EV / Sales 2022 1,53x
EV / Sales 2023 1,39x
Nbr of Employees 109 700
Free-Float 98,2%
Chart SONY GROUP CORPORATION
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Sony Group Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY GROUP CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Last Close Price 12 665,00 JPY
Average target price 15 325,00 JPY
Spread / Average Target 21,0%
EPS Revisions
Managers and Directors
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Director, VP & Head-Business Administration
Shuzo Sumi Co-Chairman
Toru Katsumoto Chief Technology Officer, Executive VP, Head-R&D
Tsuyoshi Kodera Head-Information Systems & Security
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