Steven Spielberg’s production company Amblin Partners will make several feature films a year for streaming giant Netflix, as part of a new deal.
The new partnership is symbolic for the confluence of streamed and theatrical films, and a major win for Netflix, as it vies for its position amongst increasing competition from new entrants Disney Plus and HBO Max.
Netflix co-CEO and chief content officer Ted Sarandos is understood to have played a key role in negotiating the deal.
Industry insiders may also be surprised at Spielberg’s decision to formalise a partnership with Netflix, after rumours from the past that he was a Netflix sceptic. In 2019, the film director reportedly lobbied for streaming releases to be banned from the Oscars, and to compete for Emmy’s instead – rumours that he denied.
The new deal does not specify which Spielberg feature films will be included.
“At Amblin, storytelling will forever be at the center of everything we do, and from the minute Ted and I started discussing a partnership, it was abundantly clear that we had an amazing opportunity to tell new stories together and reach audiences in new ways,” Spielberg said.
Spielberg added that the new avenue for his production company’s films would be “incredibly fulfilling for me personally.”
Ted Sarandos said: “We cannot wait to get to work with the Amblin team and we are honored and thrilled to be part of this chapter of Steven’s cinematic history.”