Netflix, Inc and Nu Image/Millennium Films announced a long-term agreement through which first-run theatrical films distributed by the Nu Image/Millennium Group will be licensed to Netflix for streaming over the Internet to its subscribers during the pay TV window.
For more information visit: www.netflix.com
Unedited press release follows:
Netflix and Nu Image/Millennium Films Announce Long-term Agreement to Stream First-Run Theatrical Films to Netflix Members
LOS ANGELES, Sept. 8 — Netflix, Inc (Nasdaq: NFLX) and Nu Image/Millennium Films today announced a long-term agreement through which first-run theatrical films distributed by the Nu Image/Millennium Group will be licensed to Netflix for streaming over the Internet to its subscribers during the “pay TV window.” Historically, these films have been licensed to premium TV channels.
The deal underscores how Netflix is moving rapidly to expand both the variety and timeliness of movies and TV episodes available to be watched instantly by its members. The companies said they expect five to 10 theatrical films per year to flow to Netflix through the agreement, in general just a few months after their release on DVD.
Nu Image and Millennium Films are best known for big budget action/thriller movies including: “The Expendables,” “John Rambo,” “Brooklyn’s Finest,” “Righteous Kill,” “16 Blocks” and “Black Dahlia.”
“We are delighted to be in business with Netflix,” said Avi Lerner, co-chairman of Nu Image/Millennium. “This is a groundbreaking deal for our new releases and library titles. It will allow us to be more aggressive with theatrical releases and will clearly impact our distribution model. We will be producing more great films for Netflix.”
“Avi Lerner and Nu Image have a remarkable track record of producing crowd pleasing and profitable films,” said Ted Sarandos, chief content officer for Netflix. “Their ability to work across multiple studios and maintain a consistent output of diverse and successful films makes Avi and his company perfect Netflix partners for theatrical features in the pay TV window.”
Among the first films to be covered under the deal is Dito Monteil’s 2011 scheduled release “Son of No One,” a crime drama starring Channing Tatum, Al Pacino, Katie Holmes, Tracy Morgan, Ray Liotta and Juliette Bincoche about a young cop assigned to the working class Queens neighborhood in which he grew up and the discovery of a horrible family secret. Also slated for Netflix via the new agreement is 2011′s scheduled “Elephant White,” starring Academy Award® nominee Djimon Hounsou and Golden Globe® winner Kevin Bacon in a drama about a contract killer who gets swept up in the dangerous business of white slave traders in Thailand.
The deal was negotiated by David Sobieraj, president of domestic video and television for Nu Image/Millennium Films, and Robert Kyncl, vice president of content acquisition for Netflix.
With more than 15 million members, Netflix, Inc. (Nasdaq: NFLX) is the world’s largest subscription service streaming movies and TV episodes over the Internet and sending DVDs by mail. For $8.99 a month, Netflix members can instantly watch unlimited TV episodes and movies streamed to their TVs and computers and can receive unlimited DVDs delivered quickly to their homes. With Netflix, there are never any due dates or late fees. Members can select from a growing library of titles that can be watched instantly and a vast array of titles on DVD. Among the large and expanding base of devices that can stream movies and TV episodes from Netflix are Microsoft’s Xbox 360, Sony’s PS3 and Nintendo’s Wii consoles; Blu-ray disc players from Samsung, LG and Insignia; Internet TVs from LG, Sony and VIZIO; the Roku digital video player and TiVo digital video recorders, and Apple’s iPhone, iPad and iPod touch. For more information, visit http://www.netflix.com.
About Nu Image/Millennium Films
Nu Image/Millennium Films is a full-service production company and distributor. Serving markets worldwide. The prolific and well known independent studio currently develops produces, finances and distributes 8-12 films a year, with locations shooting around the world. Nu Image was founded in 1992 with partners Danny Dimbort, Trevor Short and Avi Lerner. Originally dedicated to the action and thriller genres, Nu Image created Millennium Films in 1996 to address the market’s growing need for theatrical quality films and higher budget action features. The two divisions have together produced more than 230 films, including the recent theatrical releases of “John Rambo,” written, directed and starring Sylvester Stallone, and “Righteous Kill,” starring the legendary talents of Robert De Niro and Al Pacino. Other hits include: “The Black Dahlia,” “88 Minutes” and “16 Blocks.” Nu Image owns and operates a full service studio in Sofia, Bulgaria and is building a $10 million dollar facility in Shreveport, La.