The online streaming service providing platform, Netflix, has recently acquired the international distribution rights for the latest “Spongebob” film. This information has been revealed by an insider who is familiar with the deal. SpongeBob: Sponge on the Run, the Paramount Animation, has been delayed twice by Viacom, and recently, the streaming giant has acquired the foreign distribution rights for the title. This film is among all those films which have been delayed due to the coronavirus pandemic this year.
Also, this deal excludes China, where we all know that Netflix has no presence. One of the sources revealed that Paramount is planning to release the film in Canada at some point. An individual added that after releasing in Canada, Netflix would be streaming the movie in that territory. However, the representatives of Netflix and Viacom have not released any comments on this topic.
SpongeBob: Sponge on the Run Film Details
The international release date of the third film of the franchise is not yet disclosed, but the streaming giant is not beholden to the domestic debut in 2021 before offering the movie to its customers abroad. It was announced in late June by Paramount that Spongebob: Spong on the Run will be releasing in the theatres entirely and will be making its debut as a paid VOD title in early 2021. It would debut before heading to CBS All Access, its sister streaming service, as a home entertainment exclusive.
While the budget of the film is still not known, the latest animation of the animation hybrid cost roughly near $60 million. The co-financer of the project is MRC. Between all the deals of CBS All Access and Netflix, Paramount has been made whole on a budget of the project. Among all the recent transactions between Paramount and Netflix, this acquisition is one of them, including the shuttling of films like Martin Scorsese’s “The Irishman“, Issa Rae and Kumail Nanjiani’s Lovebirds, and Aaron Sorkin’s “Trial of the Chicago.”
The delightful kids cartoon, and the stoner icon, initially came to features via Nickelodeon. The second film which was released by Paramount went on to gross over $350 million worldwide. The film releases in the United States were supposed to make their debuts in the theatres, but they eventually bowed, or will bow digitally, instead of following disruption from the coronavirus pandemic.