Netflix Just Poached Two of HBO's Biggest Talents
Netflix (NASDAQ: NFLX) just signed an output deal with David Benioff and Dan Weiss, the showrunners behind HBO's Game of Thrones. The streaming leader paid about $200 million this week for the multiyear film and television output deal, according to The Hollywood Reporter. That's before it spends any money on producing whatever ideas they come up with for movies or series.
Netflix outbid Amazon (NASDAQ: AMZN) and Disney (NYSE: DIS) for the duo's creative prowess. Amazon was looking for them to man its Lord of the Rings series, while Disney was hoping they'd work on series for FX or Disney+ after completing their work on the next Star Wars trilogy.
The Benioff and Weiss agreement is just the latest in a series of deals Netflix has made directly with creators. It signed screenwriter/producers Ryan Murphy in 2018 and Shonda Rhimes the year before. It's had a deal in place with actor/comedian/screenwriter/producer Adam Sandler since 2014. Owning the exclusive rights to these creators' future outputs can be a massive competitive advantage in attracting new subscribers as streaming competition increases.
Source Fool.com