Coming soon to Netflix: All the Roald Dahl characters your inner child desires.
The streaming giant recently paid £ 500million – around $ 686million – for the rights to the UK author’s entire catalog, according to the Financial Times. The deal gives the platform the ability to develop Dahl’s characters and stories, which include the beloved books “Charlie and the Chocolate Factory”, “Matilda” and “The Witches”.
It’s all part of Netflix’s drive to become the dominant force in streaming in a race against other titans like Hulu, Amazon, and HBO.
And while nine-digit price tags are certainly high numbers for consumers, it’s only a drop in the entertainment bucket given that Netflix will likely spend around $ 17 billion on content in 2021 alone. , according to Variety. Other platforms also shell out big bucks and basically cover bets on stories that will bring in more subscribers once their efforts hit the screen.
Here’s a look at what the storytelling streaming platforms are getting into and how much it costs them.
Amazon acquires “Lord of the Rings” and MGM
Amazon is expected to spend $ 650 million on a season of its upcoming JRR Tolkien television series, which is already in production in New Zealand, Radio New Zealand reported in April. The series will take place thousands of years before “The Hobbit” and “The Lord of the Rings” and is slated for release on September 2, 2022. Amazon reportedly spent $ 250 million on TV rights to Tolkien’s fantasy universe in 2017 .
In May, Amazon agreed to buy MGM in a deal valued at $ 8.45 billion, according to CNN, providing access to a library of more than 4,000 movies and 17,000 TV shows, including the ever-changing world of James Bond. However, the Federal Trade Commission is currently reviewing the proposed deal, which has yet to be finalized.
NBC pays big bucks for “The Office”
For years, NBC’s “The Office” had found a home on Netflix until it left the platform on December 31, 2021. NBC pulled the hit series from Netflix to give it a new home on Peacock , NBC’s new streaming service, exceeding Netflix’s $ 90 million a year offer streaming rights, CNBC reported. Until 2025, NBC will pay $ 100 million to own the broadcast rights to the show, according to CNBC.
Netflix reportedly pays large sums of money for “Seinfeld”
When it applied for the rights to broadcast all 180 episodes of “Seinfeld” to the world, Netflix apparently didn’t worry about the price it would cost. The Los Angeles Times reported in 2019 that an anonymous source close to the deal said Netflix spent more than $ 500 million on the show.
Walt Disney spends billions on movie studios and four great universes
Long before comic book fans relied on streaming services for consistent content, Disney started buying creative powers. It all started with Pixar in 2006, spending $ 7.4 billion for the movie studio and its animated worlds.
Then Disney paid Marvel $ 4 billion, gaining access to thousands of comic book heroes like Captain America, Black Panther, and Iron Man. Just three years later, Disney dropped an additional $ 4 billion on LucasFilm, the production company behind “Star Wars” and “Indiana Jones.” In 2019, Disney staked it all on Fox and spent $ 71.3 billion on its entertainment assets, which included “The Simpsons”.
WarnerMedia drops $ 425 million for “Friends”
When Netflix dropped the ball on “Friends,” WarnerMedia was right behind to grab it, spending $ 425 million on streaming rights in the United States in 2019, according to the Los Angeles Times, where it was used. to attract subscribers to HBO Max. In 2015, Netflix paid $ 100 million for the streaming rights to the popular ’90s sitcom, according to CNBC.