In a deal that many believe was designed to keep movies off Netflix, executives at Home Box Office (HBO) have extended their deal with Universal Pictures for several years.
Since the pay cable channel views the streaming service as direct competition, it’s believed that HBO is doing whatever it can to prevent Netflix from increasing it’s deep catalog of films and television programs. According to Reuters, the company now has exclusive rights to Universal’s movies until 2022.
The deal was reportedly set to expire in 2015, which prompted speculation that the studio’s films would eventually find their way onto Netflix’s streaming service. However, the new HBO deal pretty much ensures that Netflix won’t have access to Universal’s content until 2022 at the very least.
Universal vice chairman and chief operating officer Rick Finkelstein said:
“With HBO’s far-reaching network of premium services, ranging from the traditional in-home experience to its mobile applications, we are pleased to continue this relationship and bring Universal and Focus Features’ films to HBO subscribers for many years to come.”
Variety reports that Time Warner CFO called HBO’s deal with Universal “very advantageous,” adding that HBO’s movies still get a lot of viewers despite the fact that original programming receives most of the PR spotlight.
Martin also described Netflix’s ability to steal customers away from cable as “not big enough to have a meaningful impact.”
Netflix currently has no comment on HBO’s deal with Universal.
The Inquisitr previously reported that Netflix recently inked a deal with Warner Bros. television to bring a number of its program to the streaming service. In addition to Chuck and Fringe, the company will also get shows like The Following with Kevin Bacon down the road.
What do you think about the recent deal between HBO and Universal? Are you disappointed the studio’s films won’t be arriving on Netflix’s streaming service anyone soon?