DISNEY AND SONY PICTURES ENTERTAINMENT ANNOUNCE UNPRECEDENTED POST-PAY 1 CONTENT LICENSING AGREEMENT

Deal Includes U.S. Rights to New Theatrical Releases from 2022-2026 Following Their Pay 1 TV Window and Library Titles from Sony Pictures for Disney's Streaming Services and Linear Networks

Agreement Provides Disney with a Robust Collection of Sony Pictures' Universe of Marvel Characters Films in Post-Pay 1 TV Windows

BURBANK, Calif., April 21, 2021 - The Walt Disney Company (DIS) and Sony Pictures Entertainment (SPE) today announced a multi-year content licensing agreement for U.S. streaming and TV rights to Sony Pictures' new theatrical releases across Disney Media & Entertainment Distribution's vast portfolio of platforms including its streaming services Disney+ and Hulu, as well as linear entertainment networks including ABC, Disney Channels, Freeform, FX and National Geographic. The deal covers theatrical releases from 2022-2026 and begins for each film following its Pay 1 TV window. The agreement builds upon the companies' prior arrangement which saw SPE movies licensed to FX in the post-Pay 1 TV window.

The deal also grants rights to a significant number of SPE's iconic library titles, ranging from the "Jumanji" and "Hotel Transylvania" franchises to Sony Pictures' Universe of Marvel Characters films, including Spider-Man. This gives Disney enormous programming potential across its platforms and makes them key destinations for a robust collection of Spider-Man films. Notably, the agreement provides Hulu access to a significant number of library titles beginning as early as this June.

"This landmark multi-year, platform agnostic agreement guarantees the team at Disney Media and Entertainment Distribution a tremendous amount of flexibility and breadth of programming possibilities to leverage Sony's rich slate of award-winning action and family films across our direct-to-consumer services and linear channels," said Chuck Saftler, head of Business Operations for ABC, Freeform, FX Networks, and Acquisitions in DMED's Networks division, who played a key role in the negotiations. "This is a win for fans, who will benefit from the ability to access the very best content from two of Hollywood's most prolific studios across a multitude of viewing platforms and experiences."

"This groundbreaking agreement reconfirms the unique and enduring value of our movies to film lovers and the platforms and networks that serve them," said Keith Le Goy, president, Worldwide Distribution and Networks, Sony Pictures Entertainment. "We are thrilled to team up with Disney on delivering our titles to their viewers and subscribers. This agreement cements a key piece of our film distribution strategy, which is to maximize the value of each of our films, by making them available to consumers across all windows with a wide range of key partners."

Financial terms of the agreement were not disclosed.

ABOUT DISNEY MEDIA & ENTERTAINMENT DISTRIBUTION

Disney Media & Entertainment Distribution (DMED) manages The Walt Disney Company's vast content commercialization and distribution ecosystem that delivers the Company's unparalleled storytelling to audiences worldwide. This entails P&L management and operation of the Company's portfolio of streaming services including Disney+, Hulu, ESPN+ and the international general entertainment offering, Star; its linear television channels and the ABC-owned stations; theatrical film distribution; content licensing and distribution, including Disney Music Group; global advertising sales; and the technology that powers these groups. Using a wealth of consumer insights from across the Company, DMED makes content investment and distribution decisions to maximize audience engagement and commercial impact across platforms, collaborating with creative leaders in Disney's Studios, General Entertainment, and Sports organizations.

ABOUT SONY PICTURES ENTERTAINMENT  

Sony Pictures Entertainment (SPE) is a subsidiary of Tokyo-based Sony Group Corporation. SPE's global operations encompass motion picture production, acquisition, and distribution; television production, acquisition, and distribution; television networks; digital content creation and distribution; operation of studio facilities; and development of new entertainment products, services and technologies. Sony Pictures Television operates dozens of wholly-owned or joint-venture production companies around the world. SPE's Motion Picture Group production organizations include Columbia Pictures, Screen Gems, TriStar Pictures, 3000 Pictures, Sony Pictures Animation, Stage 6 Films, AFFIRM Films, Sony Pictures International Productions, and Sony Pictures Classics. For additional information, visit http://www.sonypictures.com/corp/divisions.html