Magazine article Screen International

Paramount to Produce Original Films for Netflix

Magazine article Screen International

Paramount to Produce Original Films for Netflix

Article excerpt

Deal enables studio to avoid costly theatrical duds.

Paramount

Paramount Pictures has become the first Hollywood studio to produce original films for Netflix in a multi-film deal that could signal the road ahead as studios try to manage theatrical expectations and unearth new revenue streams.

Unlike previous licensing arrangements with Netflix, the Viacom-owned studio, which is enjoying a solid year following a period of under-performance, will siphon fresh content in an exclusive pact.

Paramount chairman and CEO Jim Gianopulos acknowledged in a Viacom fourth quarter earnings call on Friday (16) that the studio had the ability to create more content than theatrical system could accommodate. …

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