Netflix dumps inheritance, house/wife as filmmakers’ shopping ventures – The Hollywood Reporter

A trend among entertainment companies with Hollywood continuing its will/won’t-it-will-it relationship with a potential recession is offloading completed projects. The move has been seen across the industry, from AMC+ to Parmaount+ and Disney to HBO Max. right Now Hollywood Reporter I learned of the two completed Netflix feature films, inheritance And House wifeIt will not be distributed by the broadcasting company, as the filmmakers shop it elsewhere for distribution.

inheritanceDirected by Alejandro Bruges and produced by Paul Schiff, W House wifeFrom director Dannis Juhl and producers Trip Vinson and Daniel Beckerman, they’re the kind of movies set to be released by Netflix, which won’t be moving forward with movies right now.

In the summer, HBO Max announced the DC feature film bat girl and animated film Scoop!: A Holiday Hunt It will be delayed after production is completed. At the time, it was reported that they were a victim of a new corporate strategy from parent company Warner Bros. Pictures. Discovery, which will cut taxes on movie budgets.

It’s unclear exactly why Netflix decided to drop the two features, but the notable difference from the HBO Max titles is that inheritance And House wife Done shopping elsewhere. Most recently, a feature film based on the Comedy Central series Workaholic It was canceled by Paramount+ five weeks before filming began. Like the Netflix features, this project is now being marketed elsewhere.

on the TV interfaceSeveral shows were canceled during various stages of production, or shows were canceled prior to the start of the new season. AMC Networks, which has been on uncertain financial grounds, is seeking up to $400 million in writedowns, order cancellations for series like Damascus, Street 61 And Invitation to a bonfirewhich either may have been completed or was partially through production.

At the onset of the COVID-19 pandemic, studios like Paramount and Sony began offloading completed films to offset or reduce financial losses, landing Netflix, Amazon and Apple TV+ streaming devices. Nearly three years later, after efforts to pivot to streaming, entertainment companies are grappling with inflation, a potential recession, and a relentless chase for subscribers.

Netflix’s decision to offload the two titles has arrived as the operator attempts to maintain roughly the same level of content spending — $17 billion — in past years, with an eye on profits from its 230 million subscribers globally. Last week, the streaming company reported huge fourth-quarter results, adding 7.66 million paid subscribers, including a new ad tier option. As previously mentioned before THRthe bar has cut back on its bets on movies, but it has an impressive list of titles for the next few months that includes Adam Sandler and Jennifer Aniston. murder mystery 2 (March 31), Jennifer Lopez the mother (May 12) and Chris Hemsworth extraction 2 (June 16). Recently, Netflix was a major buying force at the Sundance Film Festival, scooping up the most buzzed-about premiere, fair playFor $20 million.

inheritance It takes place on the eve of billionaire Charles Abernathy’s 75th birthday and, according to the project’s description, “has invited his four estranged children home for fear that someone – or something – will come to kill him tonight. To ensure that his family will help protect him from whatever is to come, she puts Abernathy’s entire inheritance is at stake – they’ll get nothing if he’s found dead by dawn.” Joe Russo and Chris Lamont penned the film, which stars Bob Gunton, Peyton List, Austin Stowell, Brianna Middleton, David Walton, and Rachel Nichols. (Nichols was previously married to Netflix films chief Scott Stauber.)

House wife It follows, as the log reads, “A mother recovering from a brutal accident moves into a typical smart home with her family, only to find that the home’s AI system may have sinister intentions.” Anna Hallberg and Spencer Cohen wrote the screenplay for the film, starring Alice Braga, Chris Holden Reed, and Sarah Gadon.

A version of this story first appeared in the January 27 issue of Hollywood Reporter magazine. Click here to subscribe.

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