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Netflix Takes on Hollywood

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Netflix Takes on Hollywood

July 9 2015, 06.41pm GMT

STOCK.com

While Netflix (NFLX, -0.62%) copycats are popping up regularly and are continually having to play catch-up, the streaming-video pioneer and market leader might have come up with  the ultimate game breaker to hold onto and build its client base.

The Verge reports that Adam Sandler, Cary Fukunaga and Pee-wee Herman are all on their way to Netflix subscribers.

The article adds that the waiting period, when it was all smoke and acquisitions, is now over, with the announcement of the set of films from Netflix that will be out later this year.

Beasts of No Nation from director Cary Fukunaga is scheduled to debut on 16 October on Netflix and simultaneously at selected theatres. This could be timed as a qualifying run for any potential film awards at the end of the year.

The next film to debut on Netflix will be the first of four Adam Sandler movies being made for the streaming company. The Ridiculous Six, starring Terry Crews, Rob Schneider and Nick Nolte, is scheduled to debut on 11 December.

The remainder of the quartet from Adam Sandler Crouching Tiger, Hidden Dragon and The Green Legend are all due for release during the first three months of next year. The release of these movies will be accompanied by a theatrical release in China as well as a planned IMAX release.

These will be followed in March 2016 by Pee-wee’s Big Holiday, a collaboration between Paul Reubens and Judd Apatow. Netflix’s description of this movie is that of a fateful meeting with a mysterious stranger that inspires Pee-wee Herman to take his first ever holiday in an epic story of friendship and destiny.

The move into original films will augment the growing library of original content available to Netflix subscribers as an alternative to cable TV packages and this seems to be grabbing the attention of movie watchers.

Justin Patterson, an analyst at Raymond James, has noted that he surveyed 400 consumers in the second quarter and the majority of those questioned either planned to cancel their cable subscriptions or were not cable customers. The analyst added that Netflix is now streaming over 10 billion hours of content per quarter.

The success achieved by Netflix has resulted in big changes in consumer habits and this was also mentioned by Patterson while increasing his forecast on the Netflix stock target price  to $730 from the previous figure of $585.

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