Just one week after two Knives Out sequels were announced on Netflix, new details reveal how profitable the business is.
The deal came as a surprise, as it was believed that Lionsgate was planning to distribute the sequels, as they did with the original 2019 thriller.
New details have surfaced about the deal in a new report by The Hollywood Reporter, which reveals returning star Daniel Craig, writer-director Rian Johnson and producer Ram Bergman will each leave with $ 100 million each.
Profits: Just one week after two Knives Out sequels were announced on Netflix, new details reveal how profitable the business is
Producer and director: New details about the business have emerged through a new report by The Hollywood Reporter, which reveals returning star Daniel Craig, writer-director Rian Johnson (right) and producer Ram Bergman (left) who will each move away 100 million
The deal was initially thought to be worth more than $ 450 million in total, with THR now confirming its $ 469 million value.
The report also shows that the agreement gives Johnson, who will write the screenplay and direct the sequels, “huge creative control.”
The director doesn’t have to take any notes from the streaming service, the only unforeseen ones existing being that Craig has to star in both films, returning as detective Benoit Blanc and he must have at least the budgets of the first film, he said to be 40 million USD.
Huge creative control: the report also shows that the agreement gives Johnson, who will write the screenplay and direct the sequels, “huge creative control”
When all is said and done, Craig, Johnson and Bergman are ready to leave with $ 100 million each, although no further details have been given about their transactions.
Both Johnson and Bergman themselves retained full rights to the Knives Out franchise, with T-Street entering into an agreement with Media Rights Capital to fund the first Knives Out.
An MRC spokesman said the company was “proud” to have worked with Johnson and Bergman for Knives Out, adding that they had always controlled the franchise’s rights.
Big deal: When all is said and done, Craig, Johnson and Bergman are ready to leave with $ 100 million each, although no further details have been given about their transactions
Full rights: Both Johnson and Bergman retained full rights to the Knives Out franchise, with T-Street entering into an agreement with Media Rights Capital to fund the first Knives Out
While both Johnson and Bergman are said to be great believers in the theatrical experience, this was before the COVID-19 pandemic happened.
Johnson and Bergman hoped to begin production this summer, and as they questioned the viability of a theatrical experience in the midst of the pandemic, they bought the sequel to the streamers, with Netflix getting a couple of follow-ups.
A source pointed out that the questionable viability of the theatrical experience with the pandemic has become a “perfect storm”, with one insider stressing: “This would not have happened a year ago”.
Perfect storm: a source pointed out that the questionable viability of the theatrical experience with the pandemic has become a “perfect storm”, with one insider stressing: “This would not have happened a year ago”
Knives Out has earned $ 311 million worldwide from a budget of just $ 40 million, and although sources acknowledge Netflix is ”overpaid” for the franchise, it’s worth it.
“Yes, he pays in excess, but Netflix plays chess while everyone else plays checkers,” said another source.
“He takes a proven theatrical commodity from the blackboard and puts it in his pocket. And it’s another way for them to re-educate the public to think about streaming and their company over a studio, “the source added.
Original: Knives Out has earned $ 311 million worldwide from a budget of just $ 40 million, and while sources acknowledge Netflix is ”overpaid” for the franchise, it’s worth it.