The Academy Award-winning director of big-screen classics such as “E.T. the Extra-Terrestrial”, “Schindler’s List” and “Saving Private Ryan” will continue to direct and produce movies for Comcast’s Universal Pictures under a separate agreement.

The new arrangement adds another high-profile name to the list of talent working with Netflix at a time when companies the likes of Disney and Amazon are competing for streaming audiences.

Spielberg had been at odds with Netflix in recent years when he argued that movies seen primarily on television should be eligible for the Emmys and not Oscars.

He has spoken out about wanting to preserve the experience of seeing movies in cinemas.

“My entire life has been spent trying to give audiences something in a large, large forum,” Spielberg said in 2018. “I love the whole feeling of social interaction outside. Those are the kinds of audiences I like to talk to.”

Netflix, which plans to release more than 70 movies this year, sends some of its films to cinemas for limited runs.

Spielberg said discussions with Netflix showed “it was abundantly clear we had an amazing opportunity to tell new stories together and reach audiences in new ways”.

Financial terms of Amblin’s deal with Netflix were not disclosed.