Ten years ago, Netflix shook up the media industry with the release of Beasts of No Nation, Cary Fukunaga’s violent film about child foot soldiers in Africa. Its raw subject matter is the only explanation for why the film caused a sensation.
Beasts of No Nation was the first film that will be released in Netflix at the same time as in theaters, raising the feathers of 4 of the largest exhibitors in the United States at that time: AMC Cinemas, Carmike Cinemas, Cinemark and Treat. They believed that the online launch was a violation of the classic 90 -day exclusivity window for the theaters and announced that they would boycott beasts of any nation.
It is its undoing as the film a hit with critics and audiences alike. The former rated it at 91% on Rotten Tomatoes, the review aggregator, while it scored 92% compared to the latter. In turn, this put Netflix in the spotlight and requested it to expand its own slate of movies.
Called Netflix Originals, they are produced, finished and distributed exclusively through the platform. To attract a audience as wide as possible, they are manufactured in other countries and are available in many languages. In the upper spectrum end there are videos that have mega stars that have global attractiveness. They have a wonderful price, but they will bear fruit.
The latest in this series is Back in Action, a comedy action flick starring Cameron Diaz and Jamie Foxx as a pair of married former CIA spies who are pulled back into espionage after their secret identities are exposed. Rounding out the A List cast is Glenn Close who plays an ex-MI6 sniper and the estranged mother of Diaz’s character. The fittingly-named film is the first movie role Diaz has had in 10 years and it comes from a bygone era.
Like the spy comedies of the 1990s that encouraged him, the plot obviously shoots and that has not escaped the attention of the spectators. Since the launch of Back in Action on January 17, there have been more than 1,000 criticisms about Rotten Tomatoes, which gives you an average audience note of only 60 %, while criticism gave it even more note more note, 25 25 %. However, it has risen to the maximum sensible of the Netflix global list of English films that saw the maximum with 88. 9 million hours of visualization during their opening week. It wasn’t cheap.
Although the movie is a globetrotting adventure stretching from Atlanta to eastern Europe, it was actually made at the historic Pinewood Studios in the United Kingdom which lifts the curtain on how much it cost.
Film budgets are a well-kept secret, as studios tend to include the prices of individual photographs in their overhead expenses and don’t detail how much is spent on each one. Netflix did not respond to an opportunity to comment on this. report and was not required because the amount spent on Back in Action appears in their own documents.
“Back in Action” reached number one in Netflix despite poor reviews
The studies are executed in the United Kingdom to obtain advantages of government audiovisual spending (with) of the government, which to reimburse coins up to 25. 5 % of the coins they spend in the country.
To be eligible for reimbursement, at least 10% of production prices must be related to UK operations. in its barrier, which prevents the city from flooding and exploding in the film.
In order to be able to inform the government of how much money they have spent in the UK, the studios have set up a separate production company there for each film they make. Companies will have to record monetary statements that reveal everything from headcount and wages to general prices and reimbursement point. It takes a bit of detective work to get the information.
The companies usually have code names so that they don’t raise attention with fans when filing permits to film on location. Tallying the company names with the productions they are responsible for requires deep industry knowledge which my colleague and I have built up over nearly 15 years. We are the only reporters worldwide who specialize in covering the financial statements of U.K. film production companies for national media and we have reported on them for more than 10 leading titles including The Times of London, The Guardian, The Daily Telegraph, The Independent and the London Evening Standard.
The financial statements have a public interest in the U.K. media as the reimbursement to the studios comes from taxpayers’ money. Outside the U.K. the interest is in the bigger picture.
The Netflix subsidiary Back in Action is called Oasis Productions and it recently released its newest documents that shed light on its expenses.
As with all the companies in the United Kingdom, monetary statements are published in stages long after the era with which they relate, so the most recent presentations through Oasis Productions Canopy the year until December 31, 2023 . I 8 months after the end of the movie still a year before the end of the movie. The film created, so there is still a year for postproduction works, which can accumulate its expenses.
The financial statements show that by the end of 2023, the cost of making the movie came to $207.2 million (£165.5 million) with one of the biggest single expenses being the $13 million (£10.4 million) spent on staff which peaked at 142 people. Despite having a blockbuster budget, Netflix actually saved money on the movie as the filings add that the total costs “were less than the budgeted costs.” The U.K. government handed Netflix a $48.3 million (£38.5 million) reimbursement for Back in Action bringing the net spending on it down to $158.9 million (£127 million). It makes an impact.
‘Back in Action’ was filmed in the U.K.
The most recent knowledge from the British Film Institute (BFI) shows that in 2019, each and every one of the $1. 31 (£1) in reimbursement paid to studios generated $10. 88 (£8. 30) in additional gross price benefit (GVA) for the UK economy. This is led to an overall $10. 1 billion (£7. 7 billion) in GVA generated through film tax incentives in 2019.
Released in December 2021, the BFI’s triennial Screen Business report showed that between 2017 and 2019, the fiscal incentives to studios generated a record $17.7 billion (£13.5 billion) of return on investment to the UK economy and created more jobs than ever before. Filming in the U.K. doesn’t just create jobs for locals, it also drives spending on services such as security, equipment hire, transport and catering.
In 2019, this generated 37,685 jobs in London and 7,775 the rest of the UK, the report added that when the wider effects of the film’s content price chain are taken into account, 49,845 jobs were created in London in 2019 and 19,085 the rest of the United States. Kingdom.
Even though Hollywood was hit by moves for more than six months in 2023, the UK still got a magic touch of budget incentives, with foreign studios contributing around 77% of the $1. 8 billion (£1. 4 billion) spent on making films there. Between 2020 and 2023, Netflix invested around $6 billion in shows and movies set in the United Kingdom. As long as the rich rewards for the studios remain in place, it’s unlikely that the broadcaster will bring down the curtain on filming anytime soon.
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