Netflix Could Be Acquiring the New 'Cloverfield' Sequel From Paramount
Netflix are rumoured to be in negotiations to acquire the latest Cloverfield sequel from Paramount. God Particle, which was set for release this April, is the third film in the unexpected series, and one of the more curious blockbusters of the season. We know very little about it, with plot details kept under wraps to ensure the mystery remains intact to prospective audiences.
While 10 Cloverfield Lane was a solid sleeper hit for Paramount, the studio are said to be struggling after a very difficult 2017. The supposed safe money was on Transformers: The Last Knight, but that dramatically under-performed and grossed about $400m less than its predecessor. The wide release for mother! didn’t help them or the movie, and potential Oscar contender Downsizing received zero nominations and grossed a mere $37.6m from a $68m budget. Oh, and they also released Monster Trucks last year. Remember that movie? Yeah, that came out A YEAR AGO. And it cost $125m!
Paramount haven’t found a way to dig themselves out of these hard times. In 2016, they entered talks with the Chinese company Wanda Group in the hopes that they would acquire a 49% stake in the company. When that fell through, the Shanghai Film Group Corp. and Huahua Media stepped in and offered a three-year investment in the studio of at least 25%. After some major issues, Huahua pulled out of that deal in November. According to The Wrap, Paramount became the first major studio in 15 years to land zero Oscar nominations. Last year, they had 18.
Losing a film like God Particle, which has a mid range budget of $40m according to the piece in the Hollywood Reporter, would signal major issues for one of the most iconic studios in Hollywood history. This is the place that made Sunset Boulevard, dammit! In a world where media monopolies threaten to stifle competition and dominate the market, we need all the variety we can get. Here’s hoping they can pull through the tough times.