Netflix & Spielberg

Yesterday Netflix announced that it has partnered with Amblin, Steven Spielberg's production company, to make multiple movies a year. We are still light on details about the deal, but this is a big win for Netflix. To stay relevant as a streaming company, Netflix needs to release quality content for its users to watch regularly. Partnering with a big Hollywood name is one way to improve the odds of having quality content.

Entertainment publications are viewing the partnership as a watershed moment for the movie industry. In 2019, Spielberg was quoted as saying that Netflix films should not be part of the Oscars because they were made for TV, not theatres. With Covid and lockdowns, streaming companies showed their value to the movie industry. The deal with Spielberg cements streaming as a major player in the entertainment value chain.

Amblin says their central focus is on storytelling, regardless of the platform. Being able to watch a well-told story is valuable. I think this deal is a win for Netflix and their users.