Netflix, Disney Forge Multi-Year Licensing Pact
Netflix Inc (NASDAQ:NFLX) signed a multi-year agreement with Walt Disney Co (NYSE:DIS), gaining exclusive U.S. pay television rights to Disney movie releases from 2016.
Netflix shares were up 8 percent at $82.21 on the Nasdaq on Tuesday.
Netflix subscribers will be able to watch new Disney movies on TV, tablets, computers and mobile phones, the companies said in a statement.
Disney's direct-to-video new releases will also be made available on Netflix starting 2013.
Disney and Netflix also signed an agreement on a multi-year catalog deal which will make available Disney movies such as "Dumbo", "Pocahontas" and "Alice in Wonderland" to U.S. Netflix members from Tuesday.
Financial terms of the agreement were not disclosed.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)