Paramount and Netflix are ending their animated film agreement, bringing an end to a partnership that began when Netflix signed a multi-picture deal with Skydance Animation in 2023. The arrangement continued after Skydance merged with Paramount, but both companies have now mutually agreed to conclude the broader pact.
In a joint statement reported by Deadline, the companies confirmed that the split will not affect two projects already committed to Netflix.
“Netflix and Paramount have mutually agreed to conclude their animated film agreement.”
The statement added that both companies remain “fully committed” to the releases of Brad Bird’s Ray Gunn and director Rich Moore’s untitled Jack and the Beanstalk project. Paramount and Netflix will also continue their existing content-licensing relationship.
The partnership produced several notable animated releases during its run. Spellbound, directed by Vicky Jenson, arrived on Netflix in 2024, while Nathan Greno’s Swapped became a major streaming success in 2026. According to Deadline, Swapped reached 144.9 million global views, making it one of Netflix’s most-watched films.
The end of the agreement comes as Skydance Animation continues operating under Paramount following the companies’ merger. Skydance Animation remains a separate label from Paramount Animation and is led by John Lasseter and Holly Edwards.
Meanwhile, Netflix continues expanding its own animation slate, with projects including The Buried Giant, a new Ghostbusters animated feature, and follow-ups to KPop Demon Hunters and Leo. KPop Demon Hunters has become Netflix’s most-watched movie ever, giving the streamer significant momentum in animation.
For now, the partnership is ending without disrupting its final two announced films. Ray Gunn and Jack and the Beanstalk will still arrive through Netflix, preserving the collaboration for at least those upcoming releases.
