There's an ambitious long-term plan attached to Netflix's acquisition of the Knives Out franchise, one which may justify the $469 million cost.
Summary SCREENRANT VIDEO OF THE DAY SCROLL TO CONTINUE WITH CONTENT Netflix’s acquisition of two Knives Out sequels came with a hefty price tag, but the streamer is playing the long game. The original Knives Out was a phenomenon upon its 2019 release. The film, from writer-director Rian Johnson, gave audiences the increasingly rare delight of a sharply-written, wholly original theatrical property.
Even in 2019, the film’s franchise potential was obvious. Daniel Craig’s uniquely accented detective, Benoit Blanc, immediately registered as an iconic character capable of carrying more feature-length murder mysteries. While it seemed likely that a sequel from producers Lionsgate and MRC was on the way, the pandemic put theatrical releases in an uncertain position. Netflix snatched up the title for a seemingly exorbitant sum.
Netflix seized the opportunity, shelling out $469 million for exclusive rights to two Knives Out sequels, one of which became 2022’s Glass Onion. It’s an eye-watering sum, one that even overshadows Universal’s recent $400 million Exorcist deal. The deal yielded a tidy profit for Johnson, Bergman, and Daniel Craig, all of whom reportedly walked away with upwards of $100 million each .
Netflix’s Knives Out Deal Is Part Of A Long Game To Replace Theaters Despite racking up a high view count, it’s unclear whether Netflix’s Knives Out deal will pay for itself in the short term. It’s hard to know if strong viewership translates to new paying subscribers, and the streamer’s CEO even admitted to leaving money on the table by not giving Glass Onion a wider theatrical release.
Netflix has its sights set on a new cinematic landscape, one in which streaming is king. Their pricey deal to acquire Knives Out isn’t simply designed to turn a profit off the films, but to keep the franchise away from other studios who might give the films a cinematic release. Netflix does not want theaters to profit off a proven box office commodity like Knives Out, nor does it want audiences to continue to see theaters as the home of exciting cinematic properties.
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