Starz has ended all conversations with Netflix over renewing their popular movie licensing agreement.
The move comes the same day Netflix has begun charging more for streaming, if you want to keep your physical DVD rentals, as well.
Says the company:
The four-year "sweetheart" deal signed by Netflix 42 months ago had the company paying just $165 million total for 1000 movies. The new deal would have cost over $200 million per year.
Says the company:
Starz Entertainment has ended contract renewal negotiations with Netflix. When the agreement expires on February 28, 2012, Starz will cease to distribute its content on the Netflix streaming platform. This decision is a result of our strategy to protect the premium nature of our brand by preserving the appropriate pricing and packaging of our exclusive and highly valuable content. With our current studio rights and growing original programming presence, the network is in an excellent position to evaluate new opportunities and expand its overall business.
The four-year "sweetheart" deal signed by Netflix 42 months ago had the company paying just $165 million total for 1000 movies. The new deal would have cost over $200 million per year.
