Netflix scoops up rights to Roald Dahl's catalogue

Netflix is making an added push into content by acquiring the entire catalogue of Roald Dahl. This move builds on the collaboration between Netflix and the Roald Dahl Story Company which began three years ago to create a slate of animated TV series. For example, filmmaker Taika Waititi and actor Phil Johnson are currently working on a series based on Charlie and the Chocolate Factory, while Netflix is currently working with Sony and production house Working Title on an adaptation of Matilda The Musical.

According to Netflix, the projects led Netflix to pursue a more ambitious venture - the creation of a unique universe across animated and live-action films and TV, publishing, games, immersive experiences, live theatre, consumer products and more. Dahl is famous for books including "Matilda", "The BFG", "Fantastic Mr Fox", "Willy Wonka" and "The Twits".

"As we bring these timeless tales to more audiences in new formats, we’re committed to maintaining their unique spirit and their universal themes of surprise and kindness, while also sprinkling some fresh magic into the mix," Netflix co-CEO and chief content officer, Ted Sarandos, and Roald Dahl Story Company MD and Dahl's grandson, Luke Kelly, said in a joint statement.

This marks another win for Netflix in the content space, as the streaming platform recently bagged 44 Emmy Awards recently, including The Crown and The Queen's Gambit. According to the Wall Street Journal, Netflix is tied with the record that CBS has held since 1974, proving that streaming platforms are turning up the heat on traditional TV networks.

CFO Spencer Neumann said during Netflix's Q2 2021 earnings call that its absolute profit dollars have grown 20 times as the business has scaled from about US$100 million to US$2 billion of operating income per quarter over the past five years. "And so that will continue to scale, we think, in a healthy way because the nature of our business scales well. It's creating content from anywhere to everywhere in this very large addressable market with these big profit pools," he added.

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