Big News for Netflix

Netflix reportedly has bought the global rights to the Tom Hanks movie, News of the World, on the same day it refutes claims of axing series too soon.

“Universal still plans to release the western drama in U.S. theatres on Christmas Day,” Variety reports.

“It’s unclear when the film will be available on Netflix in international territories, but it will likely be in 2021.

“The deal has not been finalised, but is expected to close soon.”

The news broke soon after it was reported top Netflix executives had countered accusations that they disproportionately cancel more shows than other networks and platforms by revealing data around the percentage of shows that Netflix renews.

Netflix’s Global Head of TV Bela Bajaria told an industry forum the streamer has a programme renewal rate of around 67% –  which she said was in line with industry standards.

We also do make a large amount of first season shows, which sometimes feels that we have more first season cancellations but if you look at the renewal rate it’s really strong. I also think you have to look at The Crown, with season four launching now, Grace & Frankie and The Ranch, we’ve had long running shows and we’re always going to have a mix that are great to be told in a limited series form and shows that go on for multiple seasons.

Of course, Netflix isn’t the only platform to axe shows after only one season. HBO has just canned The Outsider, although Variety reports MRC “is set to shop season 2 around to other premium networks and streamers”.

And the good news for fans of Netflix’ Umbrella Academy is it’s been renewed for a third season.