Jun 21, 2021 - Economy

Netflix announces deal with Steven Spielberg studio

Steven Spielberg speaking during the 2020 Oscars.

Steven Spielberg speaking during the 2020 Oscars. Photo: Mark Ralston/AFP via Getty Images

Netflix announced a partnership with Amblin Partners on Monday, a film and television studio led by director Steven Spielberg, and said the deal will generate "multiple" new films every year.

Why it matters: Spielberg in the past has been critical of streaming services like Netflix, suggesting in 2019 that movies which debut on such services should be disqualified for Oscar nominations.

What they're saying: "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 [Sarandos, Netflix co-CEO], and I can’t wait to get started with him, Scott [Stuber, Netflix head of global film], and the entire Netflix team," Spielberg said in a statement.

  • “Steven is a creative visionary and leader and, like so many others around the world, my growing up was shaped by his memorable characters and stories that have been enduring, inspiring and awakening," Sarandos also said in a statement.

The big picture: The two companies previously collaborated on the Academy Award-nominated "The Trial of the Chicago 7" and are currently collaborating on Bradley Cooper’s Leonard Bernstein film, "Maestro."

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