Beyonce's Netflix Deal Worth a Whopping $60 Million
Netflix has become a destination for television visionaries like Shonda Rhimes and Ryan Murphy, with deals worth $100 million and $250 million, respectively, and top comedians like Chris Rock and Dave Chappelle ($40 million and $60 million, respectively). The streaming giant, which just announced it’s added nearly 10 million subscribers in Q1, is honing in on music, too, landing a three-project deal with Beyonce worth a whopping $60 million, sources tell Variety.
The first of the three specials is “Homecoming,” the behind-the-scenes documentary chronicling her 2018 Coachella performance — a massive spectacle of dance, visuals and music that reaffirmed Beyonce’s moniker of Queen Bey — which premiered on April 17. The price tag on this installment, for which Beyonce Knowles-Carter is credited as executive producer, writer and director, hovers around $20 million. Beyonce’s rep did not respond to Variety’s requests for comment; Netflix declined comment for this story, although a source at the company disputed the financial terms of the deal.
According to Vulture, HBO was also interested in the project, having had a long relationship with Knowles-Carter (the cable network aired her 2016 “Lemonade” film as well as her 2014 “On the Run Tour” concert special with husband Jay-Z and 2013 doc “Life Is But a Dream”), but backed out when Netflix came in with a richer offer. (HBO has not responded to Variety‘s request for comment.)
The first of the three specials is “Homecoming,” the behind-the-scenes documentary chronicling her 2018 Coachella performance — a massive spectacle of dance, visuals and music that reaffirmed Beyonce’s moniker of Queen Bey — which premiered on April 17. The price tag on this installment, for which Beyonce Knowles-Carter is credited as executive producer, writer and director, hovers around $20 million. Beyonce’s rep did not respond to Variety’s requests for comment; Netflix declined comment for this story, although a source at the company disputed the financial terms of the deal.
According to Vulture, HBO was also interested in the project, having had a long relationship with Knowles-Carter (the cable network aired her 2016 “Lemonade” film as well as her 2014 “On the Run Tour” concert special with husband Jay-Z and 2013 doc “Life Is But a Dream”), but backed out when Netflix came in with a richer offer. (HBO has not responded to Variety‘s request for comment.)