Netflix, Sony ink deal on streaming blockbusters

Netflix and Sony Pictures inked a deal on Thursday to offer new "Spider-Man" movies and other Sony films to U.S. customers after they play in theaters.

The five-year arrangement will begin with the 2022 slate of movies, which is scheduled to include Sony's superhero-flick "Morbius."

Future releases are also expected to include new installments in the Spider-Man and Jumanji franchises.

The movies will hit Netflix after they have finished their run in theaters and been made available for home viewing on-demand.

That period typically extends for months, though studios have been experimenting with offering films in homes sooner during the health crisis.

Under the new deal, Netflix also will stream some older films from Sony's library, and will have first dibs on 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 Disney, HBO Max and others.