Lionsgate is set to make Netflix an offer – not for the first time – regarding Knives Out 2 and Knives Out 3.
It’s felt like over the last year or two, Netflix has held the bulk of the cards in Hollywood, and also the most sizeable chequebook. Yet the streaming giant has had a tricky beginning to 2022, with signs of cracks in its business model.
As reported earlier this year, for the first time in its subscribers, Netflix is shedding subscribers. As such, its share price has taken a big hit, and rather than stories of heavy spending, there are now tales of cutbacks at the company.
Lionsgate has been swift to move.
You may recall that it was Lionsgate that backed and released Rian Johnson’s whodunnit Knives Out, starring Daniel Craig. Yet when it came time for the sequels – and there are two of them – it couldn’t compete with the amount of money Netflix was willing to spend on them.
Weill now, the CEO of Lionsgate – Jon Feltheimer – has put a proposal to Netflix, and not for the first time. He’d previously approached it about a franchise deal for Knives Out, offering a ‘loan’ of the original film to Netflix in exchange for ‘certain rights’ to the sequels.
The plan would then be all three films could be put together as a trilogy to offer around the world. As Feltheimer explained to Deadline, he pointed out to Netflix “we’re going to make a lot of money; we’ll distribute it, we’ll take a distribution fee, send it back to you”.
Netflix held all the financial cards when the first offer went in. Feltheimer confirmed that he’ll now be making the same offer again. Should Netflix accept, then Knives Out 2 – expected at the end of the year – would get a proper theatrical release before heading to streaming.
More as we hear it. Don’t expect Netflix to say yes, but it’s interesting that Hollywood clearly feels a bubble has burst here…
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