Netflix has signed a new long-term lease agreement at the Longcross Studios in the UK. It has also announced the acquisition of the Roald Dahl Story Company (RDSC). Netflix said it plans to create an "imaginative story universe" based on the author's stories, with animated and live action films/TV, games, publishing, live theatre, immersive experiences and consumer products.
No financial details were disclosed but Hollywood Reporter said the deal could be one of the biggest single investments ever in programming for children. Sources told the magazine Netflix paid a nine-figure amount only for the rights to Dahl’s works, acquiring 16 of the author’s titles, including Charlie and the Great Glass Elevator, The BFG, The Twits, George’s Marvellous Medicine and The Enormous Crocodile.
No writers or animators are yet attached to the new Dahl projects but the total production budget is expected to pass USD 500 million, and even reach USD 1 billion.
The acquisition expands on an existing partnership launched in 2018 to create animated TV series. Completion of the deal is subject to regulatory approvals and other customary closing conditions.
Meanwhile, Netflix plans to set up new sound stages, production facilities and studios after signing a new long-term lease at Longcross Studios. This will create hundreds of new jobs and boost the local economy.
