Latest in Entertainment

Image credit:

Netflix is making a fourth 'Beverly Hills Cop' movie

And potentially a fifth one as well.
Igor Bonifacic, @igorbonifacic
November 14, 2019
3012 Shares
Share
Tweet
Share

Sponsored Links

Paramount Pictures

After a 25-year absence, Axel Foley is coming back. According to Deadline, series-owner Paramount has signed a one-time licensing deal with Netflix that will allow the company to produce a fourth Beverly Hills Cop movie that will stream exclusively on its service. Both Eddie Murphy and producer Jerry Bruckheimer are on board to help with the project, and if all goes according to plan, the contract includes an option for Netflix to create a fifth movie.

This marks the third time Paramount has signed a deal of this type with Netflix. Last year, the streaming giant secured the global distribution rights to Alex Garland's Annihilation, and surprised the world after it released The Cloverfield Paradox right after announcing its existence during the Super Bowl. Beverly Hills Cop is by far and away the biggest franchise the film studio has licensed to Netflix.

Moreover, as Deadline notes, both Annihilation and The Cloverfield Paradox were finished when Netflix came into the picture and helped make them profitable. This time around, the company will have its say on both the script and the director. Notably, it's also shouldering the financial burden of financing the movie, which means if the sequel is a flop, it's on Netflix, not Paramount.

For that reason, the deal makes a lot of sense for Paramount. In its Q2 2018 fiscal quarter, more than half of the company's $741 million revenue came from its agreement to license The Cloverfield Paradox to Netflix. In fact, the movie's surprise success on Netflix was one of the main reasons the film studio was able to turn a modest $9 million profit that quarter.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
3012 Shares
Share
Tweet
Share

Popular on Engadget

Google algorithm lets robots teach themselves to walk

Google algorithm lets robots teach themselves to walk

View
Spotify is testing real-time lyrics

Spotify is testing real-time lyrics

View
Paramount cancels movie's theatrical release in favor of Netflix

Paramount cancels movie's theatrical release in favor of Netflix

View
GM offers free, limited internet access in its connected cars

GM offers free, limited internet access in its connected cars

View
'Call of Duty: Warzone' is introducing four-player squads

'Call of Duty: Warzone' is introducing four-player squads

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr