Netflix cancels two completed films, will buy them to new distributors
"The Inheritance" and "House/Wife" are looking for a new home.
According to The Hollywood Reporter, Netflix is selling two completed films, Alejandro Bruges' Inheritance and Dennis Goulet's Home/Wife. Even after being greenlit or ordered, there have been waves of multiple series and movies being scrapped. It's unclear why Netflix decided to offload these types of movies, but the streamer's decision differs from others in that it has decided to buy these items.
According to the report, Netflix decided to offload these games because it wanted to maintain the same level of content spending as last year, approximately $17 billion, while focusing on profit from its 230 million+ global subscribers. Last week, the streamer reported strong fourth-quarter results, adding 7.66 million paying subscribers, including its new ad tier option. Netflix's management has also been overhauled, with co-founder Reed Hastings stepping down as co-CEO and Ted Sarandos and Greg Peters as planned to succeed him.
Brugués' The Inheritance takes place on the eve of billionaire Charles Abernathy's 75th birthday, when he invites his four estranged children home because he fears someone or something will come and kill him. To ensure their support, Abernathy will each Their legacy is at stake - if he is found dead at the crack of dawn, they will lose everything. The feature was written by Joe Russo and Chris Lamont, with Bob Gunton, Peyton Lister, Austin Stowell, Brianna Middleton, David Walton and Rachel Starring Nichols.
Goulet's House/Wife about a mother recovering from a brutal accident. She moves in with her family into a prototype smart home, however, things take a turn for the worse when she discovers that the house's artificial intelligence system may have sinister intentions. The film, written by Anna Halberg and Spenser Cohen, also stars Alice Braga, Kris Holden-Reid and Sarah Gadon. The feature was produced by producers Trip Vinson and Daniel Beckman.
Ever since Warner Bros Discovery canceled the Batgirl movie for tax purposes, the industry has been undergoing a reshuffle, with various networks and streamers rethinking their strategies and canceling various shows, most recently, AMC canceled Demascus, 61st Street and Invitation to a bonfire - all done or close to it. Meanwhile, upcoming Netflix releases include Jeremy Garelick's Adam Sandler and Jennifer Aniston's Murder Mystery 2, Jennifer Lopez's Nikki Kahlo's action film "Mother" and Chris Hemsworth stars in Extraction 2, directed by franchise director Sam Hargrave.