Netflix buys the exclusive rights to Roald Dahl's famous stories
Get ready for a Matilda reboot, Flux fam. Netflix has bought the Roald Dahl Story Company.
What's the key learning?
- Netflix has revealed its purchased the Roald Dahl Story Company, which means it has the exclusive rights to the author's stories and characters
- More and more, we're seeing entertainment studios rely on existing franchises to attract fresh, new audiences to their platform
- Reboots have become a way for streaming services to gain market share off of other platforms.
Background: Roald Dahl wrote the famous stories of Matilda (yes, he created Ms Trunchbull), Charlie and the Chocolate Factory and The BFG - all of which have gone on to become successful films.
What happened: The GOAT of the streaming services, Netflix, has revealed it has purchased the Roald Dahl Story Company. This gives Netflix exclusive rights to Roald Dahl's stories and characters.
What else: The cost of the deal hasn't been revealed, but reports say it is Netflix's most expensive acquisition eveeeer.
So what's the key learning?
💡Sequels, replicas and reboots are all the rage in Hollywood at the moment. We're seeing entertainment studios rely on existing franchises for two main reasons.
💡1. By re-booting previously successful movies, movie studios are reducing their chances of a commercial flop. Nobody wants to be associated with Gigli.
💡2. With so many streaming platforms, it can be tough to acquire new audiences. But if you acquire a franchise that's already loved, you'll instantly acquire the fan-base too. A new fan-base = more users = more money. Simple.