Netflix spent $100 million to get the first two seasons of ‘House of Cards’ under its control but it does not give it control over the award winning series of a Machiavellian natured politician’s rise to Vice-President ready to take over the Oval Office, announced by Wired late this afternoon.
What happened is a visit to a Hollywood type accounting summary that shows Netflix first 26 episodes cost more than the $100 million invested by Netflix and Media Rights Capital owns the show and has the right to sell future season episodes.
Netflix does own the streaming rights but Sony has home video and international distribution.
The bottom line if pencils were still used on an accounting sheet moves ‘House of Cards’ to Sony for video DVD distribution and more money opportunity. Amazon instant video is also in the package.
Towards the end of February Netflix struck a long held out deal to pay Comcast for direct access to Comcast broadband network. The undisclosed amount of the deal made ‘House of Cards’ fans happy to get smooth streaming from Comcast for binge viewing. It was Netflix CEO, Reed Hastings, who cut the deal with Comcast in February to provide ‘Comcast's U.S. broadband customers with a high-quality Netflix video experience for years to come,’ according to his statement released to the media.
In reality Netflix customers will not want to go to Amazon and pay $2.99 per episode or $39 for the package. What it means is that Comcast is challenging the Netflix brand and it isn’t the only place to watch ‘Houses Of Cards' and future type hit programs. However, the Netflix and Comcast deal spans a lengthy amount of time according to disclosure in February.
The bottom line of the accounting balance sheet is that everyone in the deal is getting their piece of the pie and shows like ‘House of Cards’ will be able to afford production from the distribution options. That makes the fans very happy to enjoy their favorite and future favorites. Kevin Spacey’s character, Frank Underwood made it to the oval office and it appears Comcast took some lessons on maneuvering to the top.
To view more on Netflix and Comcast deals see the list below in the Author’s suggestions and view the video atop this article for the Comcast deal details with Sony today.
Twitter: Victoria Wagner@victoriaross888