HBO has signed a new deal with Universal Pictures that will keep the studio's films exclusively on the cable channel until at the least the next ten years. This means that other streaming services, such as Netflix, won't get Universal's movies as its content.
"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," says Rick Finkelstein, Vice Chairman and COO of Universal Pictures.
He continues, "With our upcoming slate of films, HBO will continue to offer outstanding film content to their already vast library of movies, specials and award-winning original programming." Frances Manfredi, President of NBCUniversal Cable & New Media Distribution, chimes in, "We are very pleased to continue our strong partnership with HBO to bring Universal and Focus films to HBO's loyal subscriber base - evidence of the continued strength of Pay TV."
President of Film Programming at HBO, Bruce Grivetti, adds, "Through our long and successful partnership with Universal Pictures, HBO has been able to deliver some of the biggest and best Hollywood theatricals to our subscribers. We are excited to extend our relationship with Universal Pictures and have now solidified HBO's position for first-run theatricals into the next decade."
Feature films have been vital part of HBO's content though the premium cable channel continues increasing its original programming lineup. Details of the new deal are kept secret, but Los Angeles Times says the network could pay over $200 million a year for Universal's movies, almost at the same amount paid to 20th Century Fox movies for its films.