Scott Martin, USA TODAY
SAN FRANCISCO -- Netflix has reeled in another exclusive deal in its bid to rival cable companies.
The Weinstein Company on Tuesday agreed to a multiyear exclusive licensing with Netflix for its films to run on the streaming service in the U.S.
The arrangement with Netflix, which begins in 2016, will give films from The Weinstein Company and Dimension films an exclusively run on Netflix following their run in theaters.
Shares of Netflix rose nearly 3%, at $266.81, on news of the deal.
Netflix's deal with The Weinstein Company underscores the streaming company's relentless pace of sewing up deals for sought-after content. Netflix forged a deal in December for exclusive U.S. TV rights to Disney movies, also starting in 2016.
"Harvey and Bob Weinstein are in a class of their own when it comes to choosing and producing the best films in the world," said Ted Sarandos, chief content officer for Netflix. "They are as innovative in business as they are creative in their storytelling. We look forward to reinventing the pay TV window with the Weinsteins."
The Weinstein Company has a long list of hits. Films such as Academy Award-winning silent film The Artist, Inglourious Basterds and The Intouchables are among the many films from the Hollywood film maker.