Just How Much Did The Cloverfield Paradox Cost Netflix?

Image copyright Netflix 2018

It’s been one of the most talked about Netflix movies of the year, and the streaming service’s most recent acquisition has been doing the rounds on social media since it debuted after Super Bowl LII.

The Cloverfield Paradox, the latest movie in the critically acclaimed Cloverfield franchise premiered on Netflix as opposed to airing in the cinemas as you would imagine.

And in order to secure the rights to air such a property, Netflix reported had to pay out in excess of $50 million to Paramount Studios, according to The Hollywood Reporter.

Paradox had finished principal photography in 2016, long before the deal was struck, but, when problems arose ahead of the movie’s April release date, scenes needed to be added to clarify plot holes and to help tie it back to JJ Abrams Cloverfield franchise. This, however, threw up worries and fears that the movie could end up being a failure at the box office, so a Netflix buy-out of the film actually didn’t bring about any problems for Paramount.

Abrams, Paramount chairman-CEO Jim Gianopulos, and Netflix chief Ted Sarandos and head of original films Scott Stuber met during the Festive period to work out a deal to benefit everyone involved. The end result is that Paramount retains the rights for release in China and home entertainment, as well as any future instalments of the franchise, and Netflix got one of the biggest booms in viewership figures since last year’s Bright.

Produced by JJ Abrams, directed by Julius Onah and based off a script written by Oren Uziel and Doug Jung, The Cloverfield Paradox stars Daniel Brühl, Elizabeth Debicki, Aksel Hennie, Gugu Mbatha-Raw, Chris O’Dowd, John Ortiz, David Oyelowo, and Zhang Ziyi and is available to stream on Netflix right now.

-James, 09/02/2018

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