Business

Netflix in deal with Weinstein Co.

Netflix shares closed up $13.51 at $273.29.
REUTERS/Mike Blake/File
Netflix shares closed up $13.51 at $273.29.

BEVERLY HILLS, Calif. — In a drive to add subscribers, Netflix has expanded on a movie licensing deal with Weinstein Co. that will add more films to its Internet video service beginning in 2016.

The multiyear agreement announced Tuesday builds upon a partnership that Netflix Inc. forged with Weinstein Co. last year. That deal gave it the streaming rights to the Oscar-winning film, ‘‘The Artist,’’ as well other foreign films and documentaries from the 8-year-old studio.

The new deal gives Netflix the rights to show all movies released by Weinstein Co. and its subsidiary, Dimension Films, before they appear on pay-TV channels. That makes it more competitive with channels like HBO and Showtime that have traditionally been the first place to see films after their theatrical runs.

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Investors applauded Netflix’s latest coup as the company’s stock surged to close up $13.51 at $273.29.

Netflix’s exclusive arrangement with Weinstein Co. begins with films released in theaters during 2016. That’s around the same time Netflix will begin showing films for the first time outside a movie theater from Walt Disney Co., part of an agreement announced last year.