Netflix (NFLX) inked a couple of new content licensing deals driving up the share price of the stock over 3 percent.
The new deals are to stream video content from Paramount Pictures (NYSE:VIA-B) into Canada, and a second deal with Miramax to stream their video library.
Netflix chief content officer Ted Sarandos said, "We are committed to constantly expanding our selection of top new movies and TV shows for our Canadian members. This agreement will allow them to watch some of the latest hit Paramount films as well as an incredible range of the studio's recent and classic favorites anytime they want. Netflix and Paramount enjoy a great relationship and are proud to bring such a terrific array of films to Netflix members in Canada."
The deal with Paramount is for five years. The combined deals will add over 1,000 titles to the Netflix offerings.
Netflix closed Monday at $237.32, gaining $7.31, or 3.18 percent.
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