Netflix has officially secured the rights to Roald Dahl’s Story Company in their largest acquisition to date.
Netflix’s newest purchase gives the streaming company exclusive rights to stories by popular children’s author, Roald Dahl, who passed in 1990.
The exact cost of the acquisition has not been disclosed, but Bloomberg publishers have reported that it is allegedly Netflix’s most expensive purchase yet.
Everyone knows Roald Dahl both on page and on screen.
He wrote countless classics that defined many childhoods such as Matilda, James and the Giant Peach, Charlie and the Chocolate Factory, The Witches and Fantastic Mr. Fox. Each so popular that they were adapted for the silver screen.
His literary accomplishments are world-renowned. Published in 63 languages and with more than 300 million copies sold worldwide, Roald Dahl’s literary collection continues to thrive.
The Roald Dahl Company and Netflix had a preexisting partnership dating back to 2018, where Netflix licensed several works for adaptations. At the time, The Hollywood Reporter stated that the deal was worth a whopping nine figures, between $US500 million and $US1billion.
We can only imagine how much it cost to buy the company outright.
Entertainment studios are continuously relying on the value of existing intellectual property and its franchises to attract audiences.
For example, Disney spent billions obtaining Pixar, Marvel and Lucasfilm.
Netflix is about to acquire Roald Dahl’s back catalog, which means this insane Willy Wonka scene of Uncle Joe is coming to your TV pic.twitter.com/uqR8Vrpn4M
— Trung Phan 🇨🇦 (@TrungTPhan) September 21, 2021
Netflix co-chief executive Ted Sarandos and Roald Dahl’s grandson Luke Kelly, who is the director of the story company, made a statement together:
“These projects opened up our eyes to a much more ambitious venture – the creation of a unique universe across animated and live action films and TV, publishing, games, immersive experiences, live theatre, consumer products and more.
“These stories and their messages and their messages of the power and possibility of young people have never felt more pertinent.
“As we bring these timeless tales to more audiences in new formats, we’re committed to maintaining their unique spirit and their universal themes of surprise and kindness, while also sprinkling some fresh magic into their mix.”
Bloomberg additionally stated that the deal is an outlier for a company that has made fewer than ten acquisitions in the past ten years.
Last year, Netflix revealed it was working with filmmaker Taika Waititi on two animations based on Charlie and the Chocolate Factory and an enticing spin-off series called Oompa-Loompas.
Netflix is additionally working with Sony and Working Title on producing an adaptation of Matilda the Musical.
Hopefully, Netflix will produce wonderful content that will honour the Fantastic Mr. Dahl.
Netflix have bought the Roald Dahl estate and everything associated with Roald Dahl. Prepare for Dahl-themed everything. pic.twitter.com/uHUfT2MHxo
— Jim Waterson (@jimwaterson) September 22, 2021