Netflix releases big Hollywood guns for another production push

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Paris (AFP)- Netflix has enlisted a roster of high-profile players for a new slate of movies and TV series this year, with several potential blockbusters on deck as the American giant battles to maintain its lead in the fiercely competitive streaming market.

An armada of more than 80 films featuring highly anticipated works by star directors is slated for release in 2022, accelerating the company’s push to produce exclusive content, executives announced at a press conference in Paris on Thursday.

Netflix has already carved its way into the Hollywood echelon, most recently with “Don’t Look Up” and gothic western “The Power of the Dog,” which topped the pack of Oscar contenders with 12 nominations.

But the company has seen subscriber growth stagnate in recent months despite smash hits like the macabre South Korean series “Squid Game”, as viewers are tempted by competing offerings from Apple, Amazon, HBO and Apple. others.

This year will see his first blockbuster, “The Gray Man,” an action thriller starring Ryan Gosling to be directed by the Russo Brothers behind “Captain America: Winter Soldier” and other Marvel superhero films.

Daniel Craig, fresh out of his svelte James Bond suits, will star in a ‘Knives Out’ sequel, this time trying to solve a case in Greece, while Guillermo del Toro can finally pull out the ‘Pinocchio’ announced almost four years ago.

Charlize Theron, Ana de Armas, Asa Butterfield, Jamie Foxx, Henry Cavill, Tilda Swinton and Adam Driver are among the star-studded barrage for other comedy, drama, horror and family-friendly offerings.

Overseas productions that have often proven themselves throughout the world are not forgotten, with 25 releases scheduled for France, for example, and 20 others already in production.

In total, Netflix is ​​investing 200 million euros ($220) this year in the French audiovisual industry, including around 40 million euros to produce 10 films that will also be released in theaters.

The company did not provide an overall figure for its planned production investments this year.

In January, Netflix reported fourth-quarter net profit of $607 million on revenue of $7.7 billion and warned that subscriber growth was likely to slow again in the coming months.

The company said it had a total of 221.8 million subscribers, a number that fell short of analysts’ expectations.