Ryan Murphy Shakes Up Industry With Huge Netflix Deal
The money is streaming in. The Glee and American Horror Story producer has signed a five-year deal, worth as much as $300 million, to produce new series and films only for Netflix. Murphy follows superstar showrunner Shonda Rhimes, who last year inked a similar exclusive Netflix contract worth an estimated $100 million, in a trend that’s worrying traditional TV networks unable to match such massive deals. It’s a blow for 20th Century Fox TV, Murphy’s base for 15 years, though he’ll continue to work on existing shows there.