Paramount and Netflix’s animated movie agreement is coming to an end, bringing the multi-year distribution pact to a close despite the success of one of its biggest releases. The media giants have decided to end the overall output deal, but their studio licensing relationship will continue.
According to an exclusive report from Deadline, the two will also honor commitments for select titles that were already scheduled to arrive on Netflix. The split is surprising because the partnership recently produced a major streaming success.
In May 2026, an animated comedy movie, Swapped, premiered on Netflix. Directed by Nathan Greno and featuring the voices of Michael B. Jordan and Juno Temple, the movie became a major hit, reaching 144.9 million global views during its first 91 days.
Upcoming Skydance & Netflix Animation releases move forward
The agreement began in 2023, when Skydance Animation
The agreement began in 2023, when Skydance Animation signed a multi-picture output deal with Netflix after a brief partnership with Apple. Skydance launched on Netflix with the musical fantasy Spellbound in 2024. Spellbound later won a Children’s & Family Emmy Award.
Following Skydance’s merger with Paramount Global, the company’s distribution plans changed. The companies are now moving in different directions, although two planned animated movies will still reach Netflix.
The next release is Ray Gunn, directed by Brad Bird and starring Sam Rockwell and Scarlett Johansson. The movie is scheduled to premiere on December 18, 2026. An untitled Jack and the Beanstalk project directed by Rich Moore will follow and will be the final release under the agreement.
Skydance Animation will then return to theatrical releases
Skydance Animation will then return to theatrical releases through Paramount Pictures. Its upcoming slate includes Cosmic Motors, co-directed by John Lasseter, which is planned for 2027.
Netflix, meanwhile, continues to build out its internal animation slate. Upcoming projects include Steps (releasing in November), alongside feature adaptations of Roald Dahl’s Charlie vs. the Chocolate Factory and Guillermo del Toro’s stop-motion feature. The Buried Giant.
The end of the agreement marks a shift for both companies, though viewers will still get to see the remaining projects before the partnership officially winds down.
