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DreamWorks Chooses Netflix Over HBO

DreamWorks has decided to buck recent trends and team up with Netflix. The New York Times reports that the animation studio has agreed to offer the streaming service exclusive rights to its output, at about $30 million per movie for an unspecified number of years. The deal comes at the cost of DreamWorks' relationship with HBO, which had been paying the $20 million in licensing fees for its films. While DreamWorks CEO Jeffrey Katzenberg acknowledged his new partner's recent missteps, he maintained that the move was a "game-changing deal." Speaking about the company's recent pricing changes and the invention of Qwikster, he said, "Could it have been handled better? Absolutely. But there are always bumps when you’re looking around a corner.” Reed Hastings couldn't have put it better himself. [NYT]