Disney and Sony have inked a new deal that will give streaming and TV rights for Sony Pictures' new releases--including movies like Spider-Man: No Way Home--to Disney's many streaming and linear services. It's complicated, so buckle in.

The streaming deal includes Sony's new theatrical releases between 2022 and 2026 as well as titles from Sony's existing library, with releases heading to Disney+, Hulu, ABC, Disney Channels, Freeform, FX, and National Geographic as appropriate. In the press release, Sony specifically calls out its Sony Pictures Universe of Marvel Characters films, which would include any Spider-Man films, as well as spin-off characters like Venom, Morbius, and Kraven--not to mention Spider-Man: Into the Spider-Verse and its upcoming sequel.

Here's where things get complicated, though. Earlier this month, Sony made a very similar-sounding deal with Netflix, which specifically included Spider-Man. So what's up? These features would go to Netflix first during what the industry calls the "Pay 1" window. Historically, that would've been the period after theaters but before home video; that time period where you could catch the movie on HBO or order it on Pay-Per-View from your cable provider. It typically lasts about 18 months, according to The Hollywood Reporter.