Netflix Bought â€˜The Cloverfield Paradoxâ€™ For $50 Million; How Will It Affect Franchiseâ€™s Future?
Wednesday, February 7th, 2018 at 1:25 pm
Sure everyone was surprised when Netflix released The Cloverfield Paradoxjust moments after Super Bowl LII. While the excitement for yet another Cloverfield could not be contained, the reviews that followed after critics watched the film were swift. Many said it was easy to see why Paramount may have dumped the film on over to Netflix, who reportedly paid up to $50 million dollars to distribute it.
Now we are getting a better picture of why the studio may have done that. However, it also appears that this will be a one-time thing as the studio has every intention to release the next film in the connected cinematic universe, Overlord, theatrically. More on the story below.
Per THR, Paramount was worried about how The Cloverfield Paradox would perform at the box office. Earlier this year, Paramount chairman-CEO Jim Gianopuloswas deciding which of the titles on this year’s slate were theatrical enough for release. As it turns out, Paradox was not one of those films. It was a move that was considered to be strange at the time because the first two Cloverfield films were box office hits.
Given the production problems, multiple delays, and reviews, it may have been easy to see why Netflix paid up to $50 million dollars for a franchise title. But this was a deal that had been in the works for quite some time. According to the report, Gianopulos, producer J.J. Abrams, and Netflix chief Ted Sarandos worked out a deal that allowed Paramount to bypass all costly marketing campaigns and film junkets by selling the film to Netflix, who would release the film as soon as they released the trailer last Sunday.
At the same time, this was a profitable move for the studio and Netflix got people to tune into the film as soon as the big game was done. So everyone was a winner. Paramount saved money and Netflix got a franchise title film.
This takes us to Overlord. In the film, “American paratroopers are dropped behind enemy lines to carry out a mission crucial to the invasion’s success.” But as the troopers reach the base, they discover “there is more going on in this Nazi-occupied village than a simple military operation.” There’s a supernatural force that they have to battle, a force that is a product of Nazi experiments.
While the three films are different and not connected in any real way, Paradox opens the door to the idea that these films are taking place during different times and on different Earths. The happy accident that occurred during Paradox may have caused a dimensional rift, and multiple Earths are now being affected as a result. Of course that is all just speculation.
However, how will Paradox affect Overlord? Well, it sounds like it won’t. In fact, Paramount has every intention of releasing the latter theatrically instead of handing it over to Netflix.
Sources tell The Wrap that the deal for Paramount to let Netflix release Paradox was a one-time thing that was profitable for both studios. Especially for Paramount, whose weak film slate needed a profitable injection. Additionally, the plan to release it on the night of the Super Bowl kept the sense of mystery that the franchise is known for alive.
Overlord is currently scheduled to be released on October 26, 2018.