Steven Spielberg’s Amblin Partners and Netflix have today signed an exclusive contract under which Spielberg will produce multiple new feature films for the streaming video giant every year, Variety is reporting.
Spielberg has previously been seen as something of a Netflix skeptic, which is why, today’s announcement is not only surprising, but also a a sign of the major changes taking place in Hollywood.
Under the deal, Amblin is expected to produce at least two films a year for Netflix for an unspecified number of years. The report adds that these movies may also receive some type of theatrical release as have other Netflix titles such as “The Irishman” and “Marriage Story.”
“It is possible that Spielberg may even direct some of the projects. Netflix is expected to provide financing for some of these productions. That likely won’t include his next movie, an untitled, semi-autobiographical coming-of-age story with Seth Rogen and Michelle Williams, which is expected to land at Universal.”
The deal gives Netflix access to one of the most legendary directors in Hollywood at a time when competition in the streaming space is growing intense with the launch of Disney Plus, HBO Max, and more.