Netflix strikes deal with Steven Spielberg's Amblin Partners
The companies plan to deliver "multiple new feature films per year."
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Netflix on Monday said it's partnering with Amblin Partners, the film and TV production company led by legendary director Steven Spielberg, for multiple new feature films per year. The multiyear deal comes as Netflix faces increasing competition from streaming rivals like Disney Plus and Apple TV Plus.
It also appears Spielberg and Netflix have gotten over their feud about whether films made for the streaming giant should be eligible to win Oscars. The director praised Netflix co-CEO Ted Sarandos and head of global film Scott Stuber on Monday, saying the deal offers a way to tell new stories and reach audiences in a new way.
"This new avenue for our films, alongside the stories we continue to tell with our longtime family at Universal and our other partners, will be incredibly fulfilling for me personally since we get to embark on it together with Ted, and I can't wait to get started with him, Scott, and the entire Netflix team," said Spielberg in a release.
Netflix won seven Oscars earlier this year, including production design and cinematography for Mank and documentary feature for My Octopus Teacher. However, the company hasn't yet won the coveted Oscar for best picture.
