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Netflix to pay $30 million per film to stream Dreamworks movies


Netflix has agreed a deal with Dreamworks Animation for the rights to stream the company's movies.

The streaming company will pay $30 million per film, over a number of years, to stream films such as Antz, Kung Fu Panda and Shrek.

The deal marks the first time that a major Hollywood Studios has chosen a streaming service over pay TV in the US.

Netflix recently announced that it had separated its streaming and DVD rental businesses, and renamed its DVD rental service, pointing towards a new focus for the company.

The company, still due to launch in the UK in 2012, expects to have 24 million subscribers by the end of Q3 this year.

The New York Times quoted Ted Sarandos, Netflix chief content officer, saying: "This is one of the few family entertainment brands that matter.

It's also a signal to people that we are in no way moving away from movies. Our programming is just reflecting more and more what people want."

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