Netflix chases down Hollywood with Will Smith flick
Streaming Video On Demand (SVOD) market leaders Netflix are taking aim at the movie business. The company’s latest big release is a “buddy-cop” set in an urban fantasy world, where orks, fairies, and other mythical creatures co-exist with humans in a modern day setting. Directed by David Ayer (who recently worked with Smith on superhero blockbuster Suicide Squad) this is exactly the type of film that dominates at the box office. It’s also Netflix’s first attempt a major Hollywood-style production. You can check out the trailer below:
Bryan Unkeless, one of the film’s producers, said: “it is exciting to be on the front lines with a place that feels like the future. The [Netflix] lobby feels like the central nervous system of the industry right now.”
Over the past five years, Netflix has been transforming itself from a library of returns – a la Blockbuster, and other long-dead rental stores – into a producer of critically acclaimed original programming. It’s done this by pumping money into its studios, hiring the best writers (like Orange is the New Black scribe Jenji Kohan) and a host of big names (like Wynona Rider, the currently-disgraced Kevin Spacey and, now, Will Smith). The results are hard to argue with: Netflix is up 1,352% over the last five years, and continues to outperform the market.
Netflix’s share price has appreciated by 53% so far this year
SOURCE: Yahoo Finance
Rather than rest on its laurels, Netflix will devote even more time and money to its original programming in the coming year. The company plans to release more than 80 films in 2018, and has an $8 billion budget set aside to do so. Most of these will be the inexpensive dramas and comedies that Netflix has proved it can do so well. But some will be big budget forays into Hollywood, like Bright, which had a budget of $90 million. How much of the $38.6 billion global box office can the company steal?
Dominion holds Netflix in its Global Trends Ecommerce Fund.
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