Microsoft has signed a $6 billion licensing deal with Netflix that will allow the two companies to jointly manage content across their respective platforms, according to the Wall Street Journal.
The agreement was announced today, a day after Microsoft announced a new investment to fund the creation of a new digital content platform for Netflix.
The announcement follows a recent partnership between Microsoft and the streaming service.
“We have an unprecedented opportunity to partner with Netflix and create a truly global platform for people to discover, watch, and consume the best and the brightest content from around the world,” said Kevin Turner, president and CEO of Microsoft, in a statement.
“This agreement builds on the great work we’ve done to create the most compelling, best-performing platform for the world’s largest video platform.”
Netflix and Microsoft announced earlier this month that they had reached an agreement to share content and services for a total of more than $1 billion in licensing revenue, with Netflix receiving roughly half of the total.
Netflix has been a strong performer for Microsoft, posting record subscriber numbers for the fourth quarter of 2017.
The streaming service also had the second-highest average concurrent users per user for the first quarter of 2018, trailing only Amazon, which posted record levels of growth in the same quarter.
Netflix also posted record growth in video views per user, with over 200 million unique viewers per day in Q4 2017, up 22 percent from Q3 2017.
For more on the deal, check out our full report.