Netflix Making ‘Buyout’ Investments in Indie Films
It is no secret that Netflix is entering into the original movie market. But there is some new information about how the streaming platform plans to help indie films obtain a larger degree of success -- by buying them out.
According to a report on Deadline, Netflix is planning to buy out and give a worldwide premiere to certain independent films that will reach an audience in all of their domestic and international territories.
Although Netflix has declined to comment on this new business venture, it is expected that they will be paying approximately 120 - 130 percent of these indie film budgets, which will give them complete control and full buyout rights to the film. Most projects that fall under this umbrella will generally have a production budget of under $2 million.
One of those acquisitions includes an untitled film about electronic music. This film will feature "Modern Family's" Sarah Hyland and "The Good Wife's" Graham Phillips along with Chris D'Elia ("Undateable"). The film was produced by the studio Walter Robot, which will mark its directorial feature debut.
Netflix has also acquired the buyout rights to Karl Mueller's psychological thriller "Rebirth," which is about a man who lands in a self-help retreat that features shocking and bizarre scenes.
Also on the slate for the streaming platform's buyouts is the biographical film "The Most Hated Woman in America," which is about Madalyn Murray O'Hair who was an outspoken atheist and firm crusader for the separation of church and state.
Although the streaming buffet giant has made a few acquisitions already, it is understood that they are actively seeking out other indie film projects to join a soon-to-be exhaustive list that it wants to fill a roster with.
The above trio of films is just a start. Netflix has already made investments in films that have stars like Brad Pitt and Adam Sandler attached to them and they have also struck a deal with the Duplass brothers for a duo of films, one of which ("Manson Family Vacation") will be released on Oct. 27.
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