That said, Netflix turned some heads recently when it emerged from a multi-studio bidding war with the rights to an untitled drama featuring three key members of the Nightcrawler team. Per Deadline, the film is set in the art world and will receive a small theatrical release alongside its release on the streaming service.
No word yet on how much the studio/streamer paid for the project, but it recently snapped up an upcoming Jack Black comedy for a reported “high seven figures” and is clearly intent on challenging not only some of Hollywood’s most established studios but the business model that established them in the first place.
There has been a bit of turmoil about Netflix’s approach to producing and distributing its films and fans will remember that the company had to commit to a theatrical run for Beasts of No Nation to qualify it for Oscar consideration. More recently, Netflix had a public run-in with the Cannes Film Festival, which centered around a stipulation that all festival films were required to have a theatrical release in France, the festival’s home country. The new rule seems to have been a response to the screening of two Netflix properties — The Meyerowitz Stories and Okja — which did not fit that bill.
Getting back to the news at hand, however, this film will be Gilroy’s third at the helm, after Inner City, starring Denzel Washington, and Nightcrawler which was his directorial debut.
Gilroy has yet to direct a film for Netflix, but Gyllenhaal worked with the studio/streamer recently on the aforementioned Okja, a quirky tale about a South Korean girl who must save a massive, mystical animal whom she cares for from the clutches of a multinational corporation. Gyllenhaal co-starred in the film, which is currently available on the service and has received a positive response from critics thus far.
At this point, details are scarce and the release date of this as-of-yet untitled film is still to be determined. We will keep you updated as information becomes available. Stay tuned.
