Netflix’s acquisition of The Cloverfield Paradox is something that seemed to come out of nowhere. One day we were talking about the possibility of it hitting theaters later this year than expected, then one day we’re discussing Netflix picking it up, only for it to drop less than a couple weeks later onto the streaming service.
But how much did Netflix pay for the film? THR has sources close to the situation, and according to them, they purchased the film for “north of $50 million,” and this doesn’t even include the rights for China or home entertainment, which Paramount still has the rights to for the flick.
Given the quality of the film (which is divisive at best and a dud at worst), it seems like it’s the best situation for all parties involved. Paramount makes money on the project, which allows them to make sure that the next Cloverfield is a better movie (without taking the financial hit), and Netflix gets both buzz and another big film in their catalog they can leverage.
Here’s what eMarketer’s Paul Verna had to say about Netflix’s benefits from the flick:
“It gets them attention and captures some viewing right off the bat. [No matter if the film doesn’t get the views they want,] they still got a brand jolt.”
Admittedly, when it comes to Netflix’s movie strategy, the name of the game has been quantity over quality, and no matter what, this is just another feather in their cap. It’s just another plus that this film is a part of an established franchise, which is something they’re lacking.
What do you think? Was $50 million too steep a price for The Cloverfield Paradox? Let us know down below!
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