Netflix, Inc. has decided to give its original shows a further touch of originality by shooting several of new shows itself rather than relying on outside studios. The firm is planning to shoot the Chelsea Handler’s new talk show at a space it leased in Hollywood last month, says a report from Bloomberg, citing a person familiar with the plans.
More financial risks involved
The report further says that a pair of comedy series announced earlier this year namely “Flaked,” starring Will Arnett, and “Lady Dynamite,” featuring Maria Bamford, will be shot at this studio only. Such plans from Netflix, however, exposes it to several financial risks such as hiring the talent, renting equipment and overseeing budgets, but at the same time it will help the firm in speeding up its drive for offering a uniform service across the globe.
During the most recent earnings call, Netflix, Inc. CFO David Wells said that benefits are there if the firm produces the shows, adding “If there’s great reach across the world and we can distribute that show and it will be consumed and enjoyed across the world. So there are tremendous benefits there in terms of just the scale of distributing it.”
Even though the global rights to most of the shows that the firm brands as Netflix Originals are in its control only, ownership of some of its popular shows rights rests with others. Rights to “Orange Is the New Black” are with its producers Lions Gate Entertainment while rights to “Daredevil” are with Marvel unit of Walt Disney. Moving forward, when Netflix’s licenses expire, these series will become available to the cable networks and online rivals.
Netflix shows on VR headsets
Even though Netflix do not own many of its popular shows, its leaving no chance let go to up the popularity of the shows. On Thursday, Netflix, Inc. became the first streaming media apps to launch on Oculus’ virtual reality app store. The shows will remain 2D, but going forward 3D programming can be expected.
During its developer conference, Oculus said that in the near future videos from Hulu, Twitch, Vimeo and TiVo will also be available on the headset. The newly launched Facebook’s 360-degree videos from will also be compatible. To avail this amazing experience, users will need Samsung Gear VR, an Oculus virtual reality headset, which will go on sale later this fall.
On Thursday, Netflix shares closed up 5.80% at $103.76. Year to date, the stock is up almost 112% while in the last one-year, they are up almost 59%.