Obamas Ink Long-Term Agreement with Netflix
This landmark partnership strengthens Netflix's position amid intensifying competition in the streaming industry.
Netflix Inc. (NFLX) has secured a significant multi-year agreement with Michelle and Barack Obama to create original films and series for its direct-to-consumer streaming platform. As a trailblazer in Silicon Valley's entertainment scene, Netflix continues to revolutionize traditional media through its subscription-based, on-demand model, demonstrating a strong commitment to investing in exclusive content to maintain an edge over competitors like Walt Disney Co. (DIS), Amazon.com Inc. (AMZN), and Hulu. (See also: Comparing Hulu, Netflix, and Amazon Streaming Services.)
The deal encompasses a variety of content formats, including scripted and unscripted series, documentaries, docuseries, and feature films, all produced under the Obamas' Higher Ground Productions banner. Barack Obama expressed that this collaboration enables him and Michelle to channel their dedication to public service by sharing compelling stories of diverse individuals with a global audience.
While Netflix has not revealed the financial specifics of the contract, comparable agreements between streaming platforms and prominent figures often reach tens of millions of dollars. Following strong quarterly earnings reported in mid-April, Netflix's subscriber base has surpassed 125 million worldwide, with plans to allocate $8 billion toward original content in 2018. (See also: Potential Challenges Facing Netflix’s Growth.)
Barack Obama stated, "Michelle and I are thrilled to collaborate with Netflix—we aim to nurture and showcase talented, inspiring creators who foster empathy and understanding across cultures, sharing their narratives with audiences around the world." Michelle Obama praised Netflix’s "unmatched platform" as the ideal venue for the types of series they aspire to present.
High-Profile Celebrity Partnerships Elevate Streaming Platforms in Competitive Market
Netflix Chief Content Officer Ted Sarandos remarked that the Obamas are "exceptionally positioned to uncover and highlight stories of individuals making impactful contributions to their communities and striving for positive global change." According to The New York Times, which initially reported the contract rumors in March, Barack Obama has conveyed to close associates that he does not plan to use this platform for political campaigns against President Trump or conservative media outlets such as Fox News.
Earlier this year, President Obama appeared as a guest on David Letterman’s Netflix series, "My Next Guest Needs No Introduction with David Letterman."
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