Buying a film
The highest-profile business news from the Sundance Film Festival in early February was the purchase of the film Coda by online platform Apple TV+. The streaming service paid $25 million for the film about a talented girl singer from a family of deaf and dumb people. Now, at the conclusion of the EFM Virtual Content Market, which was held at the 71st Berlinale, a deal has been announced in which twice as much was spent.
Streaming giant Netflix has bought a new horror-thriller film called "The Pale Blue Eye" by Scott Cooper starring Christian Bale for 55 million dollars. And, it had to try bypass competitors, also wishing to buy the film. The tape is about an attempt to solve a series of murders that took place in 1830 at the American Military Academy at West Point. Bale will play a veteran detective who investigates the murders. He is assisted by a detail-oriented young cadet who later becomes the world-famous writer Edgar Allan Poe.
Hollywood's Deadline was the first to publish information about the deal. The publication notes that the deal was a record-breaking in the history of the film market. And she not the only one. This is Netflix's third major acquisition in market days. The first two purchases were Operation Mincemeat and The Ice Road.