With every big dotcom, electronics manufacturer and cable provider suddenly jumping on the streaming video bandwagon in the last 18 months, it’s safe to say that industry leader Netflix is experiencing some big changes. The company’s mainstay content providers, Showtime and Starz getting skimpy with their shows, Netflix is looking to make friends elsewhere. And according to the Wall Street Journal, the video service is oh-so-close to making a deal with Miramax that would stream the studio’s library of more than 700 films to customers.
The Journal says that Miramax, the former Disney property responsible for everything from Pulp Fiction to Shakespeare in Love to Scary Movie, has worked out a five-year deal with Netflix that is worth around $100 million. The studio has also had discussions with Amazon and Facebook, claims the report.
Both parties benefit from this deal, as Netflix needs to continue growing its streaming library while Miramax, which was purchased from Disney last summer by an investor group called Filmyard Holdings, hopes to generate revenue and revive interest in the studio’s brand name.