Netflix is making original shows and handling the responsibility of distribution, and it is seeing success on both fronts. The streaming giant released Beasts of No Nation just 10 days ago in the U.S., and it has been already been viewed more than 3 million times.
Getting good response from all parts
Netflix’s head of content, Ted Sarandos, revealed the numbers in an interview with Deadline on Monday. Sarandos said the audience size for this film was way higher than the standard viewing numbers for a traditionally-released specialty or independent movie.
A decade ago, no one talked about tail risk hedge funds, which were a minuscule niche of the market. However, today many large investors, including pension funds and other institutions, have mandates that require the inclusion of tail risk protection. In a recent interview with ValueWalk, Kris Sidial of tail risk fund Ambrus Group, a Read More
Beasts of No Nation, written and directed by Cary Fukunaga, is also finding audiences in countries like Japan and Brazil where U.S.-made indie films are usually not liked much, the executive said. Netflix, which offers its services in 50 countries around the world, has 69 million monthly subscribers, of which 43 million are in the US.
“We are just thrilled with the total audience reach of this film, not just in North America, but the world. In the first week of release, Beasts of No Nation was the most watched movie on Netflix, in every country we operate in,” Sarandos said.
Netflix bought the rights to the film in March for $12 million. On Oct. 16, it released the movie on its platform and also in a limited number of U.S. and U.K. theaters. This film is the first to have the backing of a streaming powerhouse.
Netflix strong despite opposition
Four of the largest U.S. theater chains – AMC Cinemas, Carmike Cinemas, Cinemark and Regal Entertainment – were not in favor of a concurrent online and theatrical release. Netflix signed a deal with Landmark Cinemas to screen the movie in only 31 screens in 19 U.S. markets after the four theaters refused to show the film.
Another Netflix movie, Crouching Tiger, Hidden Dragon II: The Green Legend, received a similar response from the big U.S. theater chains. The movie was supposed to release simultaneously on Netflix and in IMAX in August, but now the release has been pushed to 2016. All of this had no impact on Netflix, however. The streaming firm has already set dates for many of its upcoming film releases.
At around 9:54 a.m. Eastern, Netflix shares were up 0.58% at $ 103.65. Year to date, the stock is up by almost 111%.