Overview
- A joint statement announced Monday that Netflix and Paramount have mutually agreed to end their multi-year animated film output agreement with Skydance Animation.
- Both companies confirmed they will still release Skydance’s upcoming Ray Gunn and the untitled Jack and the Beanstalk project on Netflix as part of the winding-down of the deal.
- Ray Gunn is set for a very limited theatrical run before its Netflix debut on December 18, 2026, while the Jack and the Beanstalk feature is expected to be the final Netflix release around 2027.
- Skydance, led by John Lasseter with Holly Edwards as president, plans to pivot after the Netflix releases back to a theatrical-first strategy with Paramount set to distribute titles such as Cosmic Motors.
- Paramount said it will continue licensing non-animation TV and film content to Netflix, and the split reflects an industry recalibration after mixed streaming results for Skydance that included the major hit Swapped.