In the streaming company’s largest content acquisition to date, Netflix has acquired the works of Roald Dahl, the creator of children’s classics such as Matilda, Charlie and the Chocolate Factory, and The BFG.
Netflix’s arrangement, which comes on the heels of a deal with the Roald Dahl Story Company (RDSC) to licence 16 films, will help it grow its content arsenal in the streaming wars against rivals like as Disney+, Amazon Prime Video, and HBO Max.
Under the current licence agreement, Netflix’s overall production budget is $1 billion, which includes Jojo Rabbit filmmaker Taika Waititi developing a TV series based on the universe of Charlie and the Chocolate Factory and an adaptation of Matilda the Musical.
Amazon has relocated Lord of the Rings shooting to the United Kingdom, and Hollywood wants more facilities like these. Pinewood Studios is a film production company based in the
Streaming demand for UK programmes will result in the creation of 30,000 film and television jobs.
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Netflix stated, “These initiatives opened our eyes to a far more ambitious undertaking.” “The development of a distinct world-spanning animation and live-action films and television, publishing, gaming, immersive experiences, live theatre consumer items, and more.”
The Roald Dahl estate represents a massive global potential for Netflix since his novels have been translated into 63 languages and sold over 300 million copies worldwide.
Back catalogue acquisitions are unusual for Netflix, which has amassed a customer base of more than 200 million members in part by spending billions of dollars on exclusive content partnerships with big-name filmmakers and producers.
Dahl’s grandson Luke Kelly, the managing director of the Roald Dahl Story Company, stated in a letter to colleagues, “Our purpose at the Roald Dahl Story Company is to convey the stories’ themes of optimism and the strength and possibilities of young people.”
“We feel that being a part of a larger firm will provide us with the additional assistance we need to carry out our goal. Netflix has agreed to purchase RDSC in a transaction that will expand on our recent success.”
One of Dahl’s novels is sold every 2.6 seconds, according to Kelly, and the firm has ideas for 19 TV programmes, films, stage plays, and live experiences.
“With Netflix’s help, we will be able to reach even more young people and families all around the world,” he said, adding that the business has made certain that “all of our employees will be able to gain financially from the sale.”
Kelly stated that a major portion of the sale profits will be used to establish a charitable trust that will help existing and new charity partners in the areas of children’s health, anti-hate, and anti-racism.
Dahl, who died in 1990 at the age of 74, made antisemitic comments throughout his life. Last year, the Dahl family and RDSC issued an apology for the statements.
Netflix has a slew of exclusive big-money partnerships with Hollywood A-list producers and actors, spending $17 billion this year on creating and licencing TV programmes and films.
The company spent $150 million on Ryan Reynolds’ blockbuster 6 Underground and has deals in place with talent such as Shonda Rhimes, the creator of Grey’s Anatomy, Scandal, and How to Get Away With Murder, as well as a $300 million deal with Ryan Murphy, whose credits include Glee, Nip/Tuck, and American Crime Story.