Netflixverse? Netflix Shows Interest In Building Franchise, Spends Extravagantly On Avenger Famed Directors For Latest Sci-Fi Project

Netflix, Inc NFLX is splurging on a forthcoming science-fiction movie from the filmmaking team behind "Avengers: Endgame," reflecting its interest in potential franchise projects, making it Netflix's most expensive original-film projects ever.
Netflix looks to dole out in the high $200 million range for "The Electric State"—featuring A-list talent including Chris Pratt of the "Guardians of the Galaxy" franchise and "Stranger Things" star Millie Bobby Brown, the Wall Street Journal reports.
Netflix expects the new film to be famous for meriting franchise opportunities like a TV show spinoff, merchandise, or video games.
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A Netflix spokeswoman disputed the budget number, WSJ writes.
The investment comes as Netflix tries to maximize its $17 billion content budget each year.
Reportedly, Netflix film Chair Scott Stuber is trying to balance higher-budget blockbusters that have a chance of franchise opportunities with a steady diet of less-pricey movies.
Netflix is also placing on new franchises, including Zach Snyder's space fantasy "Rebel Moon," due this year, action film "The Old Guard," which has a sequel underway, and "Extraction," another Russo Brothers film with a sequel due this June.
Netflix evaluates many other metrics to gauge whether its investments were worthwhile. It includes the percentage of its subscribers that watched a film for at least two minutes in its first 28 days on Netflix and the share of subscribers who watched at least 75 minutes of a movie, WSJ report said.
For big-budget films, Netflix evaluates whether at least 30% of subscribers watch at least two minutes of it.
After back-to-back quarters of subscriber losses in 2022, Netflix moved swiftly to cut costs. Netflix also upgraded its top-end Premium tier and issued new guidelines for account sharing to draw higher subscription-based revenue.
Price Action: NFLX shares traded higher by 0.23% at $306.50 on the last check Tuesday.
Photo by Stock Catalog via Flickr

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