Netflix in Deal to Stream First-Run Films

Features MarketWatch

Netflix said Wednesday that it has cut a deal with movie distribution, production and financing company FilmDistrict to stream first-run films over the internet shortly after they are released on DVD.

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Movies that are distributed by FilmDistrict will be licensed to Netflix for streaming a “few months” after their release on DVD. Under terms of the pact, motion pictures that are now licensed to premium cable channels will go from FilmDistrict to Netflix instead.

“Broadening the variety and timeliness of content available for Netflix members to watch instantly is among the company’s highest priorities as it rapidly transforms itself into a service focused on streaming movies and TV shows over the internet,” the company said.

Among the first films slated for the program, set to start next year, are “Drive” and “Lockout.”

Shares of Netflix were up about $1 at 206.98 in early action.