Netflix reported stronger growth in international markets than expected, which is key to its ability to keep pace with increasing content production costs. In Q3, it added 6.96 million subscribers worldwide, beating its forecast of five million in July and 5.18 million predicted by analysts contacted by FactSet. The company expects to spend as much as $8 billion on shows and movies this year, with analysts forecasting that Netflix will actually spend as much as $4 billion more on content to be released in the future, for a total of $12 billion. Continue reading Netflix Reports Solid Global Growth, Spends Big on Content

About a year after debuting its original movies division, Amazon became the first Internet company to garner an Academy Award nomination for best picture, with “Manchester by the Sea.” In addition to best picture, “Manchester by the Sea” earned five other nominations for writer and director Kenneth Lonergan, lead actor Casey Affleck, supporting actress Michelle Williams and supporting actor Lucas Hedges. Amazon also holds U.S. distribution rights to foreign language nominee “The Salesman,” from Iran. Continue reading Amazon Is First Internet Company with Best Picture Oscar Nom

After coming up empty at last year’s Sundance Film Festival, streaming services Amazon and Netflix made some significant acquisitions at this year’s indie film festival in Utah. Prior to the festival, Netflix spent $5 million for the streaming rights to “Tallulah,” starring Allison Janney and Ellen Page, and almost $7 million for “The Fundamentals of Caring,” starring Paul Rudd and Selena Gomez. Amazon inked a deal for Kenneth Lonergan’s “Manchester by the Sea,” with Kyle Chandler, Casey Affleck and Lucas Hedges. Continue reading Amazon and Netflix Acquire Movies and Visibility at Sundance

Now that Amazon and Netflix have made such a powerful impact on television, the two companies are turning their sights to motion pictures. The result could jumpstart a faltering independent film sector, say the experts. Both companies have made tremendous inroads into TV in a short period of time: Amazon has won multiple Golden Globes and Emmy Awards for “Transparent,” and Netflix earned 34 nominations at the 2015 Emmy Awards for shows including “House of Cards,” “Orange Is the New Black,” and “Unbreakable Kimmy Schmidt.” Continue reading Amazon and Netflix Focus on Film May Jumpstart Indie Cinema

On the heels of its first original theatrical film acquisition, “Beasts of No Nation,” Netflix is financing “Snowpiercer” director Bong Joon-ho’s next film, “Okja,” to the tune of $50 million. The film, which stars Jake Gyllenhaal, Tilda Swinton and Paul Dano and will be produced by Brad Pitt/Dede Gardner’s Plan B, marks the next step of the streaming media company’s transition to film production studio. Netflix’s 2016 releases include a “Crouching Tiger, Hidden Dragon” sequel and the Weinstein’s “Marco Polo.” Continue reading Netflix Doubles Down on Movie Production with $50M for ‘Okja’

Netflix’s first feature film “Beasts of No Nation,” debuts at the 72nd Venice Film Festival, to be followed by showings at the Telluride and Toronto festivals. The movie, about a young boy recruited to fight a civil war in an African nation, was directed by Cary Fukunaga (“True Detective”) and acquired by Netflix for $12 million. The movie will open on October 16 on Netflix and 29 independent screens via distributor Bleecker Street. Netflix also plans a comprehensive ad campaign and awards season push. Continue reading Game Changer: Netflix Film to Debut on Big and Small Screens

Netflix is ready to expand its original content beyond TV series to feature films. First, the service will release Cary Fukunaga’s “Beasts of No Nation” on October 16. The film will debut via Netflix and select U.S. theaters, which will make it eligible for industry awards. On December 11, Netflix will release “The Ridiculous Six,” the first of four Adam Sandler films it plans to distribute. And in Q1 2016, the sequel “Crouching Tiger, Hidden Dragon: The Green Legend” will be released globally on Netflix, theatrically in China and on IMAX. Continue reading Netflix Looking to Build its Brand with Original Feature Films