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Friday, August 12, 2022

Beyonce Signs $60 Million Deal With Netflix

Unless you’ve been living under a rock for the last month, you can’t have missed the release of Beyonce’s Homecoming documentary on Netflix. Securing the rights was a massive coup for the streaming giant that allegedly came with a price tag that it’s rivals simply couldn’t match.

Talks for Homecoming had initially been with HBO. They had previously aired the 2013 documentary Life Is But A Dream and the 2016 production Lemonade. However, Netflix came in with an offer that Queen Bey simply could not refuse and her latest project went to them.

Proving that Beyonce is not just a talented performer but a savvy and smart business woman, Homecoming is the ultimate branding machine. She wrote it, starred in it and directed it with Ed Burke. Personally choosing everything from set design, costumes and dancers, she created a visual masterpiece.

And not content with the Coachella show to rival all others, she also dropped the accompanying album on the same night the documentary aired on Netflix. From start to finish it is a master class in promotion. And after all of that she then sold the rights to Netflix for $20 million, part of a larger $60 million deal.

That $60 million is for three-part deal. However, the details surrounding that are currently being kept very tightly under wraps. It isn’t even a certainty that Beyonce will direct the other two projects. But if they are successful as Homecoming, Netflix will be more than happy.

After all, it’s not every day that a former First Lady takes the time to hail the star of one of their shows. But that’s exactly what Michelle Obama did. On April 18th she tweeted a video praising the fearless Beyonce and commending her for Homecoming. That video has been viewed over 2.3m times, further adding to the promotion for Netflix.

https://twitter.com/MichelleObama/status/1118922383602192384

So is Beyonce worth $60 million? Of course she is. Every cent of it. Netflix knows that if it wants to keep attracting customers across a wide variety of countries, demographics and cultures they have to find superstars that bring people together. And Beyonce is just the woman to do it.

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