prepares its most expensive film yet By Investing.com
investing.com | 21.03.2023 13:58
By Scott Kanowsky
Investing.com — Netflix Inc (NASDAQ:NFLX) is willing to spend big on an upcoming sci-fi movie from the team behind the blockbuster “Avengers: Endgame,” the Wall Street Journal reported Tuesday.
The cost of the film, called “The Electric State,” will be around $200 million, people familiar with the situation told the newspaper, and the project will feature star actors Chris Pratt and Millie Bobby Brown.
People also told the WSJ that it would be one of the most expensive movies Netflix has ever produced. The streaming platform hopes it will be a catalyst for a wave of ventures such as spinoff shows and merchandise, the people added.
A Netflix spokesperson declined to say exactly how much the group will spend on the film, but questioned the budget figure, the WSJ noted.
Netflix is trying to squeeze the most out of its $17 billion content budget as it faces growing competition in the media market. streaming and to the profitability requirements of investors.
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Written by: investing.com