Spielberg's Amblin Partners Agrees to Make Movies for Netflix
The production company will create at least two movies a year for Netflix
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Steven Spielberg's production company, Amblin Partners, is speeding toward the future of entertainment with a new Netflix deal. The company has agreed to produce two or more movies a year for the streamer, some of which could be directed by Spielberg himself.
- The deal won't affect Amblin's current partnership with Universal, to which it supplies three-to-five movies a year.
This is a sign of changing times for Hollywood: In a 2018 interview, Spielberg said this about streaming: “You certainly, if it's a good show, deserve an Emmy, but not an Oscar.” This year, Netflix received 36 Oscar nominations.
And Netflix wants more
The company plans to release 70 movies in 2021—which may seem overly ambitious, but streaming companies are in a sprint to stockpile the most, and best, content. Just last month, Amazon acquired MGM, and with it the historic studio's entire back catalog, including all the James Bond, Legally Blonde, and Rocky movies.
Bottom line: Striking a deal with Spielberg is a flex for Netflix; he has more Oscars under his belt than any other living filmmaker.
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Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.