After a lackluster Sundance in 2018, last year was full of mega-deals, especially by Netflix and Amazon. Buyers spent over $120 million acquiring rights to some 40 films.
To gain a global content edge, Netflix has set into motion a EU production boom with plans to produce over 225 films and shows in Europe. Netflix currently controls 53% of the SVOD market in Europe.
Since first delivering DVDs to homes via the postal service, Netflix has come to dominate the SVOD market. The streamer has 67 million subscribers in North America, which takes its total to nearly 160 million worldwide.
The reason for this lavishly spending spree is in response to new streaming competition by the studios and the upcoming exodus of content.
Starting in 2020, films released by Lionsgate will be distributed on the Hulu streaming service, and FX, the basic-cable channel now owned by Disney after the takeover of Fox.
The timing of the anonymous leak that CBS was prepared to pay Lionsgate $5 billion for Starz, raises serious questions about possible market manipulation.
Sky, Europe’s largest pay television provider announced a partnership to carry Netflix content on its direct satellite network and OTT platforms.