Netflix Acquires Story Company In Biggest Acquisition Ever

Netflix has pulled off a deal with the Roald Dahl Story Company(RDSC), to begin the production of TV show and films that would be hinged on the author’s novels.

The renowned author, who has garnered sales of over 200 million copies globally, including children’s classics such as Matilda, Charlie the Chocolate Factory, and the BFG, will have them adapted into live action and animated films and also as a TV series. According to Netflix, they will be published into projects, games, theater shows and consumer products.

This is Netflix biggest acquisition to date but has made fewer than 10 acquisitions in the past, with the streaming giant three-year old partnership with Roald Dahl Story Company transforming into outrightly acquiring the signature a deal that will propel it on top the streaming industry.

The Guardian had reported that the agreement “will help it build its content arsenal in the streaming wars against rivals including Disney+, Amazon Prime Video and HBO Max.”

Netflix will have a universal advantage in this deal as Dahl’s books which had sold over 300 million copies, having been translated into 63 languages, with the streaming giant leveraging on its 200 million subscribers user base by closing deals with big-name directors and renowned producers to churn out exclusive content.

Dahl’s grandson and the managing director of Roald Dahl Story Company (RDSC), Luke Delly in a memo to staffs of the company had written:

“Our mission at the Roald Dahl Story Company is to share the stories’ messages of hope and of the power and the possibility of young people.”

“We believe being part of a larger company will give us the additional support to continue in that mission. Netflix has agreed to acquire RDSC in a transaction that will build on the success that we have achieved in recent years,” Kelly added. “With Netflix’s support we will be able to reach even more young people and families around the world,” he said, adding that the company had made sure “that all our staff are able to benefit financially from the sale.”

Kelly further opined that a sizeable portion of the accruing revenues will be channeled to a charity organization, a move that will help in supporting existing and new charity partners who had their main focus on children’s health, anti-hate and anti-racism movements.

Netflix Video streaming subscription service is available globally except in parts of China, Syria, North Korea, and Crimea as a result of varying sanctions and local restrictions as applicable. The firm is also a member of the Motion Picture Association (MPA).