The deal will kick off with be the company's first in-house production National Lampoon's Bag Boy.
'I am delighted to be forging this relationship with Beta,' president of worldwide distribution Tom Daniels said.
'There is strong demand from European audiences for the irreverent humour and comedy for which National Lampoon is known, and Beta is the perfect partner to deliver National Lampoon content to our European fans.'
National Lampoon plans to release up to 12 films per year domestically, comprised of four original titles and up to eight acquisitions.
The company will handle distribution independently and partner with major studios on broader releases.
National Lampoon Presents Electric Apricot: Quest For Festeroo will be released this week and National Lampoon's Bagboy is set for January 2008.
The company also signed a seven-figure deal with Comedy Central for first broadcast television window rights.