The Walt Disney Company (DIS -0.45%) and Sony Group Corporation (SONY 0.37%) have announced a licensing deal that will bring certain properties from Sony Pictures Entertainment to Disney's subscription video-streaming service Disney+. Among these film properties is the Spider-Man franchise -- a Marvel fan favorite.
Terms of the deal weren't disclosed. However, the deal is much bigger than just Spider-Man films streaming on Disney+. The deal includes many of Sony Pictures' past films and upcoming releases. Furthermore, it grants Disney the distribution rights across various outlets, including streaming platforms like Hulu as well as various cable-TV channels.
Image source: Getty Images.
Spider-Man will be reuniting on Disney+ with his superhero pals like Iron Man and the rest of the Avengers. Disney acquired Marvel for $4 billion back in 2009. However, by that time Marvel had already sold the film rights to several of its more popular properties, including Spider-Man and The Fantastic Four. Disney and Sony have made deals in the past. Yesterday's licensing deal is just their latest agreement for keeping Spider-Man included in the ongoing Marvel universe.
Many film studios have launched their own video-streaming services in the past year to take advantage of changing consumer preferences. Sony has a service as well called Bravia Core. However, Bravia Core is only available to those who purchase certain Sony smart-TV models. Therefore, given the limited reach of Bravia Core, it makes sense to seek a larger distribution partner in Disney.
