Netflix continues its poaching of top talent from TV world
Ryan Murphy is the man behind hit series like Glee and American Horror Story. And now, he’s working for Netflix.
The SVOD market leader has a habit of poaching top creative minds from TV and film studios. Shonda Rhimes (the ABC producer behind Grey’s Anatomy and Scandal) and Mark Millar (the comic book superstar behind Kick Ass and a host of Marvel properties) are just two of the talented creative that Netflix has wooed away from previous employers in the past.
Murphy left 21st Century Fox for a $300 million budget over five years at Netflix. It’s part of the company’s on-going strategy to create the best original content, thereby drawing viewers to its platform with enticements that its competitors can’t offer. With a string of successes like Stranger Things and The Cloverfield Paradox, it’s a strategy that’s working out well for the company.
It’s only February, but Netflix’s share price is already up 41% this year!
SOURCE: Yahoo Finance
Murphy was expected to re-sign with Fox. This became less certain once news of the Fox / Disney deal broke, prompting a phone call from Disney CEO Bob Iger who reassured him that the family film experts wanted the “edgy” material Murphy is known for. Then Amazon Video got involved too. In the end, however, it was Netflix that Murphy chose for the next half-decade.
Netflix’s growing stable of top-talent is undoubtedly working: the hits keep coming, and the subscriber figures keep rising. Whether the kind of spending the company has committed to is sustainable is another matter (Netflix will spend $4 billion on content this year alone). Murphy’s first bits of work for Netflix will be a One Flew Over The Cuckoo’s Nest prequel called Ratched, and a comedy series called The Politician.
Dominion holds Netflix in its Global Trends Ecommerce Fund.
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