Published 11:45 AM EDT Sep 19, 2019
Netflix may be changing the way it pays talent in order to woo filmmakers, actors and movie producers away from lucrative deals elsewhere.
Traditionally, the streaming giant compensates actors and producers upfront for film projects. It also covers the full cost of production. However, Bloomberg reports that Netflix is considering a shift in its payment structure to allow bonuses if a film performs well.
The measure of success would be individualized, internal sources told Bloomberg. So, one movie’s performance power could be gauged based on how many people actually streamed it, while the success of another film could be pegged to how many awards it wins.
Netflix couldn’t be immediately reached for comment.
iPhone 11: So Apple actually wants to trademark ‘slofie’
New life for MoviePass? Former CEO of parent company wants to buy the service
Netflix is the world’s largest paid online network. Still, other studios and major stations are bulking up their online streaming presence, so Netflix faces greater competition for talent and video projects.
Disney, which is known to attract A-list talent, plans to launch its Disney+ streaming service in November with titles from Disney, Marvel, Pixar, Star Wars and National Geographic. The library will include material from Fox as well.
Apple is also set to kick off its Apple TV+ service with original content and partnerships with big names Oprah Winfrey, Steven Spielberg, Reese Witherspoon and Jennifer Aniston. While Amazon Prime Video has been around for years, releasing several series that have been nominated for numerous awards.
In an effort to receive more critical acclaim for its films, Netflix has started giving certain movies larger release windows, Bloomberg reports. It has also been shunned by some movie theaters for its rigid rules on how long a movie can play before it becomes available online.
Spielberg earlier this year floated the idea that the Academy of Motion Picture Arts and Sciences should change its eligibility requirements to exclude streaming services.
Follow Dalvin Brown on Twitter: @Dalvin_Brown.