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March 16, 2011
US subscription video provider Netflix is in talks to finance its first original content - a high-end drama series its producers have pitched to other possible partners, including pay TV network HBO. Reports indicate that the company is negotiating to produce two 26-part series of House of Cards, produced by Media Rights Capital and directed by David Fincher. Netflix itself has so far made no comment. The political drama is based on a series first aired by the BBC in the 1990s.
Netflix, which has made it clear that in the long term it wants to switch entirely to streaming its content, has focused recently on increasing the size of the catalogue of its Watch Instantly streaming service. Netflix already has TV series deals with Warner Bros, NBC Universal, ABC Disney and 20th Century Fox.
Reports have estimated the budget for two seasons of House of Cards at $100m; however, the contribution from Netflix is unlikely to cover the full amount, as the company would buy pay TV rights, while MRC would retain others. HBO, which has become increasingly identified with its original TV series content, generates more than $500m a year from secondary TV, home entertainment and international rights. HBO also sees its content investment as vital to enhance the value of its subscriber proposition in a mature and highly competitive market.
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