Spielberg signs Netflix deal to produce multiple films a year

Steven Spielberg’s Amblin Partners signed a deal with Netflix Inc. to produce multiple films a year, giving the streaming service fresh ammunition as competition grows.

The multiyear agreement builds on an existing relationship -- the companies teamed up on last year’s "The Trial of the Chicago 7” and the Leonard Bernstein biopic "Maestro,” which is in preproduction -- they said in a statement Monday. Terms of the deal weren’t disclosed. Netflix is the dominant paid streaming service, but it’s seeking more hits that can attract subscribers and help it stand out in a crowded market -- especially as media giants such as Walt Disney Co., AT&T Inc.’s WarnerMedia and Comcast Corp.’s NBCUniversal debut more of their biggest films online.