The new agreement will give subscribers access to hundreds of Miramax titles, starting this June. In a statement, Netflix and Miramax said that dozens of films will be added on a rotating basis.
This partnership is just the latest content deal for Netflix. In April, the company signed a multi-year deal with Lionsgate to bring programming -- including the hit television show Mad Men -- to the instant streaming service. CBS and Disney have also signed multi-year agreements with the service.
The Netflix partnership comes at a crucial time for Miramax. The Walt Disney Company, which had owned the studio since 1993, sold the film library and other assets to Filmyard Holdings in December 2010. Although the studio does have three new releases planned for 2011, the focus of the company now is dedicated to leveraging its extensive -- and critically acclaimed -- library of films in the digital marketplace.
To that end, Miramax has been in talks with various digital services, including Hulu and Amazon, to digitally distribute films. The Netflix deal is the first step as part of this broader digital strategy.
BONUS: Chronicling Netflix's Downturn, July to October 2011