Streaming-video company Netflix Inc. said it will carry recently released movies from Weinstein Co. beginning in 2016, displacing premium cable channel Showtime as the exclusive subscription TV home for the film studio's content.

The multiyear licensing agreement is the latest move by Netflix to snap up rights to recent movies in competition with subscription TV services like HBO, Starz and Showtime. These services have traditionally gained rights to show movies about eight months after they have completed their run in theaters and a few months after they become available on DVD and on video-on-demand services.

Last December Netflix outbid Starz for the rights to Walt Disney Co. movies from 2016, a deal that was seen as establishing Netflix as a legitimate competitor to premium channels. Netflix has also signed up several independent film studios in recent years, in addition to Weinstein Co., the closely held studio behind films such as "Lee Daniels' The Butler," "Fruitvale Station" and "Silver Linings Playbook." Others include Relativity Media LLC, FilmDistrict, and Open Road Films. Netflix already had a deal in place for Weinstein Co.'s documentaries and foreign films.

Netflix spends over $2 billion on content annually in the hopes of luring in subscribers who pay $7.99 a month for its service. Much of the cash is going to TV programming rights and production of original shows like "House of Cards" and "Orange is the New Black," but the Weinstein Co. deal underscores that the company still wants to maintain a targeted selection of movie offerings.

The deal displaces CBS Corp. 's Showtime, which has had an agreement with Weinstein Co. since 2009. A spokeswoman said the premium channel will have the pay-TV rights to Weinstein Co. movies released theatrically through 2015.