Netflix has dedicated a tremendous budget to luring big names away from old Hollywood.
So far, the streaming giant has been highly successful in bringing top talent and producers.
Here Comes Ryan Murphy
Among its most recent large deals is one that has pulled in Ryan Murphy and which has been estimated at a value of about $300 million for its five years. Murphy is a top director, producer and writer who has spent the majority of his career so far with 21st Century Fox.
Murphy is known for his hit projects such as “Glee,” “Nip/Tuck,” “American Crime Story,” and “American Horror Story,” among others.
“The history of this moment is not lost on me,” said Murphy in a recent statement. “I am a gay kid from Indiana who moved to Hollywood in 1989 with $55 in savings in my pocket, so the fact that my dreams have crystallized and come true in such a major way is emotional and overwhelming to me.”
Shonda Rhimes Joined Last Year
Last year in August, Shonda Rhimes struck a $100 million deal with Netflix. Rhimes is best known for having created “Scandal” and “Grey’s Anatomy,” on ABC.
She had been working with Disney when she entered into the agreement with Netflix, coincidentally around the time when Disney announced its intention to withdraw many of its products from Netflix with the intention of broadening its own streaming offerings.
Netflix Original Programming
This is only a small sliver of a growing trend at Netflix as it works to solidify its own unique content in order to reduce the risk of losing relevance when compared to its larger budget rivals such as Hulu as well as Apple and Amazon.
Netflix first started to produce its own original programming back in 2012. Since then, its offerings have only continued to grow. The company recently said it intends to spend as much as $8 billion on content in 2018. In contrast, Apple has announced a plan to begin original programming with a $1 billion budget.
Other high profile names recently signed on with Netflix for its original content include David Letterman, Chris Rock, Dave Chapel and Adam Sandler, among others.