After Netflix first steps in the original film content with Beasts of no nation earlier this year, they did not stop the distribution, Netflix instead grow by film financing. In a move that sees Netflix to take on the growing film studios, we will see much more original content from streaming giants, but go as far as the financing of a film is a big step.
When Netflix paid $ 12 million for distribution rights Beasts Of No Nation, a relatively unknown director, he was seen a bold move but eventually paid. According to statistics from Netflix, the film has attracted over 3 million views on its streaming platform, against a not so great box office showing. But this time, Netflix will be setting $ 50million to secure the rights and the new film CFO Snowpiercer Bong Joon-Ho, Okja. Production company Plan B Brad Pitt are said to be co-producing the new film, which is starring Jake Gyllenhaal, Tilda Swinton and Paul Dano.
This is only the first step in Netflix looking to take on the traditional studio system, something that many agree has lost its way. When money dominates the film industry as it does, the largest studios tend not to risk on original ideas but many prefer to walk on familiar ground, safe bets like sequels and reboots. But Netflix are not afraid of gambling on original ideas, of how they beat cable companies at their own game with original television shows.
Netflix continues to dominate elsewhere as Australia reached 1 million subscribers in just eight months after Netflix officially launched in Australia and New Zealand earlier this year. With having over 69 million subscribers worldwide, the service is growing in popularity, he plans to be in the home of a third of all Australian homes in seven years.
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