How Much Money Did Little Fires Everywhere Make
Hulu got a taste of the accolade-winning life final year with its hit drama A Handmaid'due south Tale, and it's hoping to again in 2018.
The streaming service simply scored the highly sought after rights to develop Little Fires Everywhere, a series based on Celeste Ng'south 2017 all-time-selling novel. Hulu reportedly outbid several other big name rivals for the limited series that will be produced past Reese Witherspoon's Howdy Sunshine production visitor.
Considering Witherspoon'southward success in the 2017 awards flavour with the evidence Big Little Lies, it seems like a match made in heaven. Information technology's as well another sign of how competitive the market has go for both product talent and scripts.
Hulu has been scooping upwards awards for its programs. Image source: Hulu.
When rights to Picayune Fires Everywhere hit the marketplace, it started "a competitive bidding state of war that ignited Hollywood," Hulu noted in its statement. The passionate fight over the eight-episode drama is a attestation to Witherspoon's growing power in Hollywood, as well as Ng's writing talent.
Last twelvemonth, Hello Sunshine releasedBig Trivial Lies on HBO, where it won viii Emmys, including Outstanding Limited Series. The show has been renewed, and when the second season debuts in 2019, Meryl Streep will join the cast.
Witherspoon's production company is likewise working with some other up-and-coming streaming video actor: Apple (AAPL 0.xi%). At the end of 2017, the tech behemothic scored a highly coveted drama series about the people who produce a daily morning Telly prove, starring Witherspoon and Friends' Jennifer Aniston. Apple tree's 2d project with How-do-you-do Sunshine is a true-crime series called Are Y'all Sleeping?, starring The Help's Octavia Spencer.
Ng'due south talent should aid propel the serial' success. Her get-go published novel, Everything I Never Told You, was a New York Times best-seller, likewise as Amazon's No. 1 Best Book of 2014. Her second, Niggling Fires Everywhere, was a New York Times all-time-seller, Amazon's No. 2 Best Volume of 2017, and the winner of Goodreads Readers Choice Award 2017 for Fiction.
If that wasn't enough star power to draw audiences in, Scandal's Kerry Washington has signed on to star in the serial alongside Witherspoon. With this much well-known talent involved, Hulu won't demand to marketplace the series also hard. Audiences will come up to it.
Hulu became the first streaming site ever to take home an Emmy Award for Outstanding Drama Series when information technology won for A Handmaid'due south Tale, which as well earned Hulu its offset 2 Golden Globe awards. The company is conspicuously hoping for some other critical favorite in Little Fires Everywhere.
Hollywood'south ongoing talent wars
The behest war over Lilliputian Fires Everywhere was simply one of many talent and script tussles beyond Hollywood as TV studios and streaming giants all fight for projects they hope volition lure in viewers. At this betoken, if a streamer wins a project that has big names attached, information technology'south safe to presume that it was fought over before finding a home. For example, multiple networks were said to be pursuing the Witherspoon-Aniston drama that Apple ended up winning.
In August, Netflix (NFLX iv.xv%) signed an estimated $100 million multiyear product deal with former ABC Studios creator Shonda Rhimes, known for hit shows like Grayness's Anatomy and Scandal. And so in February, Netflix signed a $300 million multiyear contract with serial creator Ryan Spud, who was previously atTwenty-Commencement Century Play a joke on and is backside hitting shows likeFeud andAmerican Horror Story.
Meanwhile,Disney (DIS 1.64%) recently hired erstwhile Apple and Samsung exec Kevin Swint to assist it launch its new streaming service, due to become live in 2019. Swint previously worked for two years as vice president of product, content and services at Samsung. And before that, he spent v years as the manager of international movies at Apple's iTunes.
Apple seem to be doing well with its two Witherspoon projects, only information technology also has other serial in the works. It's set up to revive the Steven Spielberg album seriesAmazing Storiesfor 10 episodes, with a reported $5 1000000 budget per episode. And in March, information technology ordered ii thirteen-episode seasons of the animated comedy seriesCentral Park, from the creator of Bob's Burgers.
Hulu'south biggest trouble
Founded in 2008, Hulu'southward content has helped it concenter a solid base of 17 meg subscribers. That'due south admirable, but nonetheless far beneath Netflix'south well-nigh 118 million worldwide subscribers.
In club to abound its subscriber base of operations, Hulu knows information technology has to keep spending money to produce high-quality shows like A Handmaid'south Tale. That explains why Hulu lost an estimated $920 million in 2017 and is expected to lose $one.seven billion in 2018, co-ordinate to BTIG media analyst Rich Greenfield.
Hulu spent an estimated $ii.5 billion on content in 2017, but the bottom line is that it doesn't have enough subscribers paying for that content to profit. Meanwhile, Netflix turned a healthy turn a profit last year despite its $6 billion 2017 content upkeep, thanks to its large subscriber base of operations.
With Hulu stuck in a loop where it has to spend money to gain more than subscribers, its residual sheet will probably get worse before information technology gets amend.
Source: https://www.fool.com/investing/2018/03/19/hulu-wins-big-with-reese-witherspoon-project-littl.aspx
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