Netflix is looking to hire the famous trio of the popular series Top Gear, battling competitors like ITV and Hulu. ITV and Netflix are the top contenders while Hulu is also trying to get its hands on the deal.
Why Netflix wants the trio
James May, Richard Hammond and Jeremy Clarkson are said to have been in talks with TV networks and online video streaming companies for weeks now to present a new automobile show which will be unscripted and compete with Top Gear, which will be now re-launched with new host Chris Evans. There are reports that the trio is being backed by American talent agency William Morris Endeavor (WME). Andy Wilman, who is the producer of the show, will also reportedly join the trio for the new automotive show.
Investors Flock To Hedge Funds As Markets Recover
According to a recent Credit Suisse survey, investors are more interested in hedge funds than any other major asset class going into the second half of the year. Q1 2020 hedge fund letters, conferences and more This is a big switch from investor sentiment in the first half of 2020. Indeed, hedge fund launches slowed Read More
Netflix, which is looking to win the show for its streaming service, is also offering lucrative deals to hosts. Further, the streaming company is looking to expand in Europe and the U.K., and the trio could help the U.S. firm with it.
Who could walk away with the deal?
BBC-backed Top Gear is one of the most watched unscripted shows in the world. Earlier this year, Clarkson was sacked from the show after he allegedly abused one of the show producers on a location shoot. Clarkson has been the show’s host since 1988 but did not host any seasons from 1999 until 2002 when the show was re-launched. After Clarkson was ousted from the show, Hammond and May also did not extend their agreement.
Netflix is streaming the previous seasons of the show, which was produced in 2011. Its arch rival Hulu Plus owns the right to stream the show’s seasons as old as 2003 when the trio’s era actually started. So it becomes obvious that Hulu will be interested in acquiring the rights of the new series as well. However, Netflix would be more lucrative for the hosts compared to Hulu as the company is already expanding in international markets. Even ITV presents a big opportunity for the trio due to its strong distribution capacity in the U.K. and abroad.