Netflix Outbids Warner Bros., MGM in $90 Million Bid For Will Smith Movie
By Robert Stitt
From “Orange is the New Black” to “Daredevil”, Netflix has set itself up as a leader in the online streaming market.
When Will Smith and director David Ayer agreed to work together on Max Landis’s fantasy cop film, “Bright”, the studios were all abuzz. It is reported that Warner Bros. and MGM each bid $50 million for the rights to the film. PalmStar upped the ante to $64 million, but Netflix shut them down by going all-in with a $90 million offer.
Deadline reports that Landis will get more than three million for his script and “Upwards of $45 million of said package is expected to be spent towards the costs of shooting, including talent fees and back end buy outs.”
The investment is somewhat of a risk. While Smith is still a big name in Hollywood, he is not the box office draw he once was (think After Earth). Further, the first major collaboration between Smith and Ayers, “Suicide Squad”, has not yet been released. If it is a hit, then Bright will likely reap the rewards of great publicity, but if it falls flat…
Both Bright and Suicide Squad are set to become franchises. In fact, as soon as “Bright” is done shooting in the fall, it is back to work for the duo on the sequel for “Suicide Squad”. After that, could it be more Bright?
Netflix previously outbid the major studios on “War Machine”, written by David Michod and starring Brad Pitt. It appears that Netflix really is following a “Go big or go home” business model.