In a joint statement on the Netflix deal, the director of “Jaws” and “Schindler’s List” described “this new avenue for our films” as an “incredible opportunity to tell new stories together and reach audiences in another way.”
Spielberg also praised his close relationship with Netflix co-CEO Ted Sarandos; a man once outside the industry who became one of Hollywood’s leading and most powerful entrepreneurs.
“We are honored and excited to be a part of this chapter in Steven’s film history,” said Sarandos.
Spielberg’s company Amblin Partners will continue to produce for Universal as its next version of “West Side Story” will be released by Disney-owned 20th Century.
Monday’s announcement did not say whether Spielberg, who has produced more films in recent years than he directed, will direct any of the Netflix films.