Hulu reached a new multiyear output-licensing agreement with indie film distributor Magnolia Pictures, under which Hulu will obtain pay-TV window streaming rights to films to future releases starting in the second half of 2017.
The deal comes after Netflix’s output deal with Magnolia recently expired after three years. Under Hulu’s pact with Magnolia, films will become available to stream exclusively on Hulu following their theatrical run; the companies did not say how long the agreement will run.
“As we continue investing in the most valued and sought-after content, films are essential to that mix,” Craig Erwich, Hulu’s senior VP and head of content, said in a statement. “Magnolia Pictures continuously releases thought-provoking and award winning titles that we know our viewers will love.”
Magnolia Pictures president Eamonn Bowles added, “We are very proud and excited to have struck such a meaningful partnership with a great company like Hulu.”
Magnolia’s titles have included such documentaries as Oscar-winning “Man on Wire,” as well as “Food Inc.,” “Jiro Dreams of Sushi,” “The Queen of Versailles” and “Blackfish.” Its catalog also has included foreign films such as “Force Majeure” and recent Oscar nominees “A Royal Affair” and “A War,” as well as films “Melancholia,” “Let the Right One In,” “13 Assassins,” “Tangerine” and “Viva.”
Titles from Magnolia will join Hulu’s growing list of films including theatrical film licensing agreements with Disney Studios and Epix, and a pay-one licensing deal with IFC Films for documentaries.
Magnolia Pictures is the theatrical and home-entertainment distribution arm of the Wagner/Cuban Companies, co-owned by Todd Wagner and Mark Cuban, whose holdings also includes the Landmark Theatres chain and cable channel AXS TV.
Hulu is owned by NBCUniversal, Disney and 21st Century Fox — which each own 30% of the subscription VOD provider — and Time Warner holds a 10% stake. The company is gearing up to launch a live TV “skinny bundle” component to the core SVOD offering sometime this spring, priced at less than $40 per month.