Steven Spielberg's production company signs a deal with Netflix

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Steven Spielberg's production company Amblin Partners has signed a deal with Netflix to produce multiple new feature films per year. CNN's frankpallotta reports.

Amblin Partners, the film and TV production studio led by the blockbuster director, announced a partnership with the streaming company Monday that will include multiple new feature films per year for the service, according to the two companies.Production deals are commonplace in the entertainment industry, but what makes Monday's announcement stand out is that it's another sign of the changing dynamics in Hollywood.

" Read MoreNetflix needs a Next Big ThingSpielberg added that he and Amblin are excited to work with Netflix and will continue to work with longtime partners like Universal Pictures.The announcement is also notable because Spielberg has been critical of streaming in the past. For example, Spielberg told ITV News in 2018 that"once you commit to a television format, you're a TV movie."However, Spielberg has since been clearer about his support of film on the big or small screen.

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frankpallotta Love Spielberg work

frankpallotta I thought he was anti- Netflix?

frankpallotta I'm sure this is connected to the new york cinema that Netflix bought, Speilberg will have his films shown there

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NickMadrid16 frankpallotta No need to watch Spielberg with the UFO UAP news all around at the moment anyone able to lend a hand explaining a recent clear video that’s emerged of a triangular UFO in Shanghai a few days ago. Specifically looking for current Shanghai residents :)

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frankpallotta Cant be the same Stevie who tried to block Netflix and similar outlets from Oscar eligibility!

frankpallotta Cant be the same Stevie who tried to block Netflix and similar outlets from Oscar eligibility.

frankpallotta It is funny that these companies can convince us that is better to pay a monthly subscription fee for mediocre content that is hardly watchable, as opposed to old times when we could choose and buy a couple dvds that we could own and watch anytime. Magic of subscription economy

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