Netflix Forked Over More Than $50M For 'The Cloverfield Paradox': Report
Netflix has just bought The Cloverfield Paradox from Paramount for more than $50 million. The trailer for this aired during the Super Bowl.
Sources told The Hollywood Reporter that talks had been finalized just last month. Even so, Paramount would still have rights over the movie in China and home entertainment, as well as future installments.
The film would become God Particle and would be released on the streaming service provider, instead of movie houses. This action was regarded in a bid to save excessive expenses on marketing and from expected reaction from fans of the considered lackluster content.
The Cloverfield Paradox earned a 6 out of 10 rating on IMDb and 18 percent on Rotten Tomatoes. A review noted that it was a far cry from 10 Cloverfield Lane and explained that "a theatrical release would likely have been disastrous."
Originally, The Cloverfield Paradox already had a lot of setbacks in its theatrical release and then it was finally set to air on April 20. But during the Super Bowl, it was abruptly announced that it would be available for streaming on Netflix after the game.
It is worth noting that the night had been filled with trailer ads for big films, including Mission Impossible: Fallout. But Netflix's offer differed from them because it made the content available conveniently hours after it was aired.
The Cloverfield Paradox, produced by J.J. Abrams and directed by Julius Onah, is another installment of the popular Cloverfield franchise. Its cast include Gugu Mbatha-Raw, Elizabeth Debicki, Daniel Brühl, Chris O'Dowd, and David Oyelowo. Its photography had been completed in September 2016.
The sci-fi film talks about the Earth's shortage of energy and some experts' move to fix the problem by using an advanced particle accelerator. These experts go to a space station but things took another course when they thought they have fixed the issue.
Netflix's Situation
Even if the film would eventually flop, Netflix is still in a win-win situation. Paul Verna of eMarketers explained that the buzz the deal had created could gain them the attention they needed.
"They still got a brand jolt," he retained.
For Paramount, it would also be advantageous as it would save them the cost.
Basically, Netflix had been a clear and glaring haven for contents like this. Annihilation, which stars Natalie Portman, had been acquired by the company, though Paramount will still release it in local theaters on Feb. 23.
