Netflix, DreamWorks ink new deal

LOS GATOS, Calif., Sept. 26 (UPI) -- U.S. video and movie giant Netflix and DreamWorks Animation SKG said Monday they have signed a new multi-year licensing agreement.

The pact means Netflix will be the exclusive subscription television service for first-run feature films and select TV specials from DreamWorks Animation, the creators of the "Shrek," "Madagascar," "Kung Fu Panda" and "How to Train Your Dragon" franchises.

Beginning with 2013 feature films, new DreamWorks Animation titles will be made available for Netflix members to watch instantly in the pay TV window on multiple platforms, including television, tablet, computer and mobile phones.

Under the agreement, certain DreamWorks Animation catalog titles will also be made available to Netflix members over time.

"DreamWorks Animation is one of the few family entertainment brands that really matters. The studio is brilliantly creative, technologically innovative and incredibly successful at making films and TV shows that delight people of all ages," Ted Sarandos, chief content officer of Netflix, said in a statement Monday. "This agreement strengthens the lineup of great family content Netflix members will be able to watch instantly and also increases the number of hit first-run films we'll have available in the pay TV window."

"Netflix has emerged as an innovative brand with an impressive track record for attracting high-quality content providers to its service and we look forward to making DreamWorks Animation titles available to over 24 million Netflix members in the United States," Jeffrey Katzenberg, chief executive officer of DreamWorks Animation, said. "This arrangement allows us to get more value for our content while giving us a greater degree of flexibility in how we distribute it across multiple platforms in today's evolving digital world."

Financial terms of the agreement were not disclosed.