If Netflix’s efforts to acquire content for its Web streaming service was a baseball game, then it would be in the 5th inning for securing TV shows and in the 8th for movies — although there’s a chance to start a new match there around 2013 — CFO David Wells told an investor group on Wednesday. Hollywood studios are less fearful of Netflix than they were in 2009 and 2010. “Wall Street probably had a part in amping the paranoia of doing deals,” Wells told the Bank of America Merrill Lynch Technology Conference. But now studios are willing to experiment, and “it means people are coming to us with deals.” Opportunities may increase in a few years as studio commitments to premium channels such as HBO and Starz expire. For example, he says that Netflix would consider doing a deal directly with Disney or Sony in mid-2015 if they’re unhappy with the terms that Starz offers them to stream their films. Wells says that studios “would love for us to have a competitor” to bid up prices for movies and TV shows — and Netflix considers Amazon, Google, and Apple likely candidates to play that role. “They’re well capitalized and consumer-centric,” he says. Years from now he says that cable and satellite companies could join the fray by introducing their own Internet streaming services. “It will make for good sport down the road on the content side,” Wells says. But rivals must be ready to spend hundreds of millions of dollars just to match the movie and TV deals that Netflix has cut since September. Although he wouldn’t discuss specific agreements in detail, Wells says that many studios insist that Netflix pay for old content that it doesn’t want in order to secure streaming rights for more attractive movies and TV shows. Still, Netflix won’t keep spending if it can’t meet its target to generate a 14% operating profit margin for the U.S. business. Netflix probably won’t add advertising, games, or a VOD service to make the streaming service more profitable. “Expect from us continued focus,” Wells says.
Netflix Exec Says Wall Street Fanned Hollywood 'Paranoia', But Now Studios 'Are Coming To Us'
What's Hot on Deadline
'Coco' Now Higher With $74M+ Thanks To A+ CinemaScore; 'Justice League' At $61M+; 'Wonder' Wows At $32M+: Friday AM Update
'Thursday Night Football' Ratings Down From Thanksgiving 2016, Macy's Parade Steady, 'Young Sheldon' Up
Uma Thurman To Harvey Weinstein: "I'm Glad It's Going Slowly, You Don't Deserve A Bullet... Stay Tuned"
'Man Who Invented Christmas' Review: Dan Stevens & Christopher Plummer Turn Scrooge Origin Tale Into A Holiday Treat
Latest Film News
- Kumail Nanjiani On How A Pitch To Judd Apatow About A Ghost Witch Movie Begat ‘The Big Sick’ – The…
- Exhibition Stocks Rise In Short Trading Session On Holiday Box Office Optimism
- ‘Arthur Miller: Writer’ Helmer Rebecca Miller Discusses Her Doc Portrait Of Father Arthur Miller
- Denis Villeneuve On His Love Of Sci-Fi, Working With Ridley Scott On ‘Blade Runner 2049’ & Revisiting ‘Dune’ – Behind…
- Denzel Washington & Dan Gilroy On Why ‘Roman J. Israel, Esq’ Never Left The ’60s Behind – The…
- ‘Loveless’ Director Andrey Zvyagintsev On Filmmaking In Modern-Day Russia