Netflix coughs up $1b for procurement of Roald Dahl's works

Global video-streaming giant Netflix has reportedly acquired the works of Roald Dahl: the renowned author of children books that included 'Matilda', 'Charlie and the Chocolate Factory' among others. This is the streaming company's biggest content deal to date, claim reports.

The deal finalised by Netflix—touted to be its biggest deal till date—has an agreement with the Roald Dahl Story Company (RDSC) to license 16 titles in total and will help stay ahead in the game that involves rivals like Disney+, Amazon Prime Video and HBO Max.

As per reports, Netflix's production budget for this deal is one billion that also covers 'Jojo Rabbit' director Taika Waititi's TV series based on 'Charlie and the Chocolate Factory' as well as an adaptation of 'Matilda the Musical'.

"These projects opened our eyes to a much more ambitious venture. The creation of a unique universe across animated and live-action films and TV, publishing, games, immersive experiences, live theatre consumer products and more," Netflix reportedly said.

The Roald Dahl estate-deal is being perceived as a huge boost to Netflix's growth as the author's books have been translated into 63 languages and sold more than 300m copies worldwide.

Dahl's grandson Luke Kelly, the managing director of RDSC, reportedly said, "Our mission at the Roald Dahl Story Company is to share the stories' messages of hope and of the power and the possibility of young people. We believe being part of a larger company will give us the additional support to continue in that mission. Netflix has agreed to acquire RDSC in a transaction that will build on the success that we have achieved in recent years."

Kelly also went on to add that Dahl's books is sold every 2.6 seconds, and the company had plans in place for 19 TV shows, films, stage shows and live experiences, reports claim. (IANS)

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