Netflix $100m for original content
March 16, 2011
Netflix has upped its stalking of pay-TV operators by bidding as much as $100 million for exclusive US rights to a new political series starring Kevin Spacey.
House of Cards, a remake of the BBC political drama, is directed by The Social Network’s David Fincher and is being auctioned by Media Rights Capital. The bidding field had included HBO but Netflix, according to reports, is now in exclusive final negotiations after its knockout bid.
If the company completes the deal it would be the first time it has licensed such high-profile, original programming. Last year, Netflix agreed a $900 million five-year deal for the right to stream films from three studios – Paramount Pictures, Metro-Goldwyn-Mayer and Lions Gate Entertainment – before they were shown on pay-TV.