The streaming space is reaching saturation point with Apple TV+, Disney+, Discovery+, Paramount+, HBO Max... You get the cord-cutting picture.

So, it makes sense for Sony, which has had a chequered history adapting to a digital era disrupted by tech titans such as Apple, to form a multi-year distribution deal with streaming incumbent Netflix.

“At Sony Pictures, we produce some of the biggest blockbusters and the most creative, original films in the industry. This exciting agreement further demonstrates the importance of that content to our distribution partners as they grow their audiences and deliver the very best in entertainment,” said Keith Le Goy, Sony’s president of worldwide distribution.

Netflix dominates but is losing ground to competitors during the pandemic.

Netflix film head Scott Stuber added, “This not only allows us to bring their impressive slate of beloved film franchises and new IP to Netflix in the U.S., but it also establishes a new source of first-run films for Netflix movie lovers worldwide.”

With competing studios releasing theatrical films, simultaneously in cinemas and direct-to-consumers, this is a smart move.

Disney+ doesn't get to play with all the Marvel toys.

It's a win-win for both companies and will see PlayStation Productions' live-action Uncharted, Spider-Man: Into the Spider-Verse 2 and Marvel Studios' Spider-Man: No Way Home debut first on Netflix from 2022.