Video streaming giant Netflix has added another movie honcho to its content roster, this time the famous movie producer and director Steven Spielberg. Spielberg’s production company, Amblin Partners, has signed a deal to produce multiple feature films per year for the company.

• Though the financial terms of the deal weren’t announced, it should be obvious to anyone that signing Steven Spielberg to a production deal costs big bucks. It’s a testament to Netflix spending excessively on original content – $17bn for this year alone. 

• Amblin Partners is an entertainment company Spielberg established in 2015 along with three other partners. It’s a successor to the live-action counterpart of DreamWorks, Spielberg’s former company.

• Since its establishment in 2015, Amblin churned out movies that won three Oscars and two Golden Globes. Its best success is the British war film 1917, which grossed $385mn on a budget of $95mn.

• Long before Amblin Partners, Spielberg had produced films under another company sharing the same first name – Amblin Entertainment. That one churned out many movie hits than we can count on one hand, including the Jurassic Park series.

• With Netflix’s deal, the video streaming giant will get original content from Spielberg, quite a good deal. It’s a time when Netflix is facing tough competition from the likes of Disney+, HBO Max, and Paramount+, so it’s no surprise the company is spending big to stand out.

• As Netflix noted, its deal with Amblin Partners covers “multiple new feature films per year.” Exactly what amount isn’t disclosed.

• Netflix closed the first quarter of 2021 with 208 million paid subscriptions. Compared to the same quarter of 2020, it added nearly 25 million new paid subcribers.

Photo credit: Gage Skidmore

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