Netflix, Inc. Acquires Global Rights For ‘6 Years’

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Netflix has acquired the worldwide rights to 6 Years, a show produced by the Duplass Brothers and directed by Hannah Fidell, who earlier directed the film A Teacher. The script of 6 Years, which just premiered at the SXSW Film Festival, was written by Fidell, and it stars Taissa Farmiga (American Horror Story) and Ben Rosenfield (Boardwalk Empire).

Netflix adds new content

Later this year, the film will be premiered on Netflix’s streaming service in all markets. 6 Years is the first major deal of South by Southwest in 2015, and the cost of acquisition for the rights is estimated “around $1 million” or in the low seven figures, says a report from Deadline. Prior to this, Netflix and the Duplass Brothers signed a four-picture deal at Sundance 2015.

“We are thrilled to bring this terrific film 6 Years to audiences at SXSW and Netflix, and to extend our deal with the Duplass Brothers in the process,” Netflix’s Ted Sarandos said in a press release.

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The movie revolves around a young couple (Farmiga and Rosenfield) whose future planning gets disturbed because of the job opportunities that come across their paths, and their relationship is put to the test.

Netflix downgraded to Sell

Netflix has two things on its mind right now. First the most important is to expand globally to add to its subscriber growth, which in turn will help add revenue. The next important task, which is based on the first one, is adding new shows that cater to viewers of all kinds of tastes and preferences and age groups. But both require heavy investing

Evercore ISI downgraded Netflix, keeping in view the intensifying competition in the industry. Owing to the competition, the streaming company will be required to make investments at an increased rate with no guarantee of returns. Analyst Ken Sena slashed the firm’s rating to Sell from Hold and also lowered their price target from $450 to $380. The analyst views the stock as “unattractive” due to rising competition among “existing and emerging distributors, and with content providers becoming better equipped to leverage these newer channels through [over-the-top] offerings.”

At around 10 a.m. Eastern, Netflix stock was down 3.68% to $421.67, while year to date, shares of the streaming company are up by over 23%.