Successful CMOs achieve growth by leveraging technology. Join us for GrowthBeat Summit on June 1-2 in Boston
, where we'll discuss how to merge creativity with technology to drive growth. Space is limited. Request your personal invitation here
Miramax on Tuesday announced that it has signed its first-ever international digital rights agreement, making 140 of its titles available to stream on Netflix in Latin America.
Netflix began its launch into 43 Latin American and Caribbean countries yesterday, so it’s certainly not wasting any time in getting high-quality streaming content there. Films covered in the agreement include newer titles like There Will Be Blood, Kill Bill and Gone Baby Gone, as well as older hits like Good Will Hunting, Pulp Fiction and The English Patient.
“The robust Netflix platform will provide a proven avenue to reach Latin American audiences and take advantage of strong subscriber growth prospects,” Miramax CEO Mike Lang said in a statement. “We look forward to growing the international audience for the Miramax library through many more partnerships like this around the world.”
While the Miramax deal is relatively small, it shows Netflix is serious about providing content in other countries. Netflix and other media companies like Hulu that are looking to stream content outside the U.S. have quite a challenge ahead of them. Each country and region has its own rules for licensing, and it’s not cheap to make it happen.
Miramax appears to be on a roll with offering digital versions of its content every way that it can. On top of making its movies available through Netflix and Hulu, the company just launched an app that enables users to rent movies on Facebook.
Netflix has been hit by two major blows as of late. First, customers were understandably angry that the company raised the price of one of its most popular plans by a whopping 60 percent. Second, it lost a major rights agreement with Starz, which will leave Netflix streaming customers with fewer movie and TV choices in Feb. 2012.
Both Netflix incidents show the company’s growing pains as it tries to continue disrupting how people consume their movie and TV content. However, if the Miramax deal is any indication, Netflix will continue its push to make as much content available for streaming as possible in order to keep customers interested.