Netflix has canned its troubled Nancy Meyers blockbuster rom-com.
Tensions first emerged in current weeks when it was reported that the streamer wouldn’t meet Meyers’ price range expectations of $US150 million. Netflix would solely pony up $US130 for the manufacturing.
Now, based on The Hollywood Reporter, the undertaking has been scrapped when the 2 sides couldn’t discover a approach by the battle.
The movie, which was going by the work-in-progress or codename title Paris Paramount, was to have been considered one of if not the costliest rom-com in historical past. And it had a rumoured starry forged together with Scarlett Johansson, Penelope Cruz, Michael Fassbender and Owen Wilson.
The plot was stated to be a few filmmaker and producer who fell in love once they have been younger, labored on a bunch of flicks collectively earlier than splitting each personally and professionally. And then they discovered themselves pressured again collectively on a film.
The film was first introduced a yr in the past.
Meyers is taken into account as one of the influential filmmakers in rom-coms, having both penned the screenplay or additionally directed the likes of Father of the Bride, The Parent Trap, It’s Complicated and Something’s Gotta Give.
Her most up-to-date movie was The Intern starring Anne Hathaway and Robert De Niro.
Her daughter, Hallie Meyers-Shyer, adopted in her mother and father’ footsteps (Meyer’s former associate is filmmaker Charles Shyer), having helmed the Reese Witherspoon rom-com Home Again. Meyers was a producer on Home Again.
Hollywood studios and leisure firms together with Netflix have been extra prudent with spending as they take care of the worldwide financial downturn.
Netflix reported a subscriber progress of seven.7 million within the ultimate quarter of 2022, which was a reversal of fortunes from earlier within the yr, and a 2 per cent improve in income in the identical interval.
While it’s on higher footing than solely months earlier, the trade is readying itself for belt-tightening as cost-of-living challenges hit its buyer base.
Netflix spent $US16.84 billion on content material in 2022, down from $US17.70 billion in 2021. Chief monetary officer Spender Neumann stated the streamer anticipated to spend $US17 billion in 2023, reflecting a plateauing after earlier years of aggressive progress.
Elsewhere within the trade, Disney’s returned boss Bob Iger flagged the studio would spend $US3 billion much less in non-sports content material as the corporate appears to chop $US5.5 billion in prices.
Source: www.news.com.au
