SPIELBERG, MGM AND THE BEATLES DEALS BOOST NETFLIX DOMINANCE ON STREAMING

Steven Spielberg is making his way over to Netflix, the latest marquee Hollywood name to capitalize on the golden era of streaming, with multiple platforms shelling out billions for quality content, Yahoo Finance correspondent Alexandra Canal reported.

The 3-time Academy Award winner inked a multi-year deal with the streaming giant through his production company, Amblin Partners.

Under the terms of the deal, Amblin — the studio behind high-profile films like "1917," "The Trial of the Chicago 7" and "Green Book" —will supply Netflix with multiple movies per year over the course of the agreement. It is unclear if Spielberg will direct any of the films at this time.

Although the financial stipulations have not been disclosed, sources at both Deadline and The Hollywood Reporter say that the deal has no restrictions regarding budget or genre. It's also possible that the films could have a theatrical release, in addition to a Netflix debut — similar to Martin Scorsese's "The Irishman" and Noah Baumbach's "Marriage Story."

The announcement came as a surprise to many industry analysts, as Spielberg has consistently put his weight behind the theatrical experience. Spielberg has a separate deal with Universal Pictures, which he still will be able to maintain under the new Netflix arrangement.

In 2019, the director reportedly voiced concerns over streaming films' equal treatment at the Oscars, believing it to be an inferior cinematic experience. “Once you commit to a television format, you’re a TV movie,” Spielberg said during an interview with ITV in 2018. “You certainly, if it’s a good show, deserve an Emmy, but not an Oscar."

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC