Netflix is hoping to change the mode of payment for talents, and it is inviting top agents and managers to represent agencies like WME, CAA, and Verve, among others. This “breakfast” at Tudum theater is being called “Netflix Explained.”.
This meeting is being eyed at as Netflix will probably be introducing its new policies, which will provide more transparency in the payments. Now, one may expect the streaming service to amp up its expenses regarding the change in policies. This time around, it is trying to make it so that the talents will get a back-end share in its projects.
Instead of the traditional method, which saw huge fees being paid to the stars, this policy aims at encouraging the talents to work harder and create blockbusters, as their earnings would be directly dependent on the performance of the projects. Netflix might ask for a reduction in fees by a 20-30% mark, which will be compensated by the backend support.
Now, it is to be seen how this works out. How Netflix would convince its talents to let go of that sweet, sweet money in exchange for a performance-based payment system. Even though the biannual report shows a massive 94 billion hours of streaming, effectively helping the credibility of the platform, the change will still be drastic.
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