Netflix has been a deal-making spree, and it’s latest is with Beyonce. And it’s worth a whopping $60 million for the superstar singer.
According to sources, Netflix has committed to three projects by Beyonce. It’s the last feather in the streaming giant’s cap.
“Netflix has become a destination for television visionaries like Shonda Rhimes and Ryan Murphy, with deals worth $100 million and $250 million, respectively, and top comedians like Chris Rock and Dave Chappelle ($40 million and $60 million, respectively),” Variety reported.
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These moves have been paying off, Netflix recently announced it’s added nearly 10 million subscribers in the first quarter of the year.
“The price tag on this installment, for which Beyonce Knowles-Carter is credited as executive producer, writer and director, hovers around $20 million,” Variety reported.
It has been reported that Netflix beat out HBO for the “Homecoming” documentary. HBO and Beyonce have had a long relationship. HBO aired her 2016 “Lemonade” film. It also aired the “On the Run Tour” concert special with her husband Jay-Z in 2014, and the 2013 doc “Life Is But a Dream”).
“The cable network was interested, but, these sources say, Netflix stepped in with a ridiculously big money offer and HBO couldn’t justify matching such a steep price tag,” the Vulture reported.