Why studios selling to streamers is an accelerating trend
Call it Tom's Choice. Like all the major studios, Sony Pictures is questing for new franchises — and after years of development, it might have one with the He-Man movieBut while the picture is on the calendar for release in March 2021, sources tellthat studio chairman Tom Rothman is exploring the prospect of getting risk-free cash for the pricey project by making it for Netflix instead.
So there's the dilemma: seek a studio or financier to partner on the project, holding on to various rights and territories, or make the safe deal with Netflix . Studios selling to streamers is an accelerating trend: Paramount is looking into dedicating a division to that purpose, while a source with knowledge of the situation says Sony's TriStar label is devoting resources to streaming deals.
Even Warners may sell to outsiders despite its parent, WarnerMedia, allocating massive resources to its own streaming service, HBO Max. Disney and Universal are likely to sit this out for now, making movies for their own services, Disney+ and Peacock . As for the others, says a rep involved in a number of deals, "They have this backlog of films that isn’t going to get made and released theatrically." After long seeing Netflix as the enemy, this person says, studios "are turning around and saying, 'Let’s join ‘em. We can’t beat ‘em.'" Meanwhile, Netflix is said to be looking to make a quality tentpole a quarter with international appeal, creating a healthy demand.
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