Netflix & Amazon Both Spent Millions At This Year’s Sundance Film Festival

One of the biggest trends in the digital streaming market right now is exclusive rights to video content whether it be films or series that can be distributed under the parent brand and made exclusive on their respective platforms.

An excellent example of this is Manchester By The Sea which Amazon purchased for $10M last year. The film was released in theaters having already grossed a 4x return (it will be made available on Amazon Instant Video in the future) and has been nominated for several major film-related awards including six Oscars.

At this year's Sundance Film Festival, there were some significant acquisitions from Amazon and rival, Netflix who are both betting big on original content. Amazon purchased a romantic comedy called The Big Sick for $12M and a Grateful Dead documentary dubbed Long Strange Trip for $6M.

Netflix dished out $8M for a film focused on anorexia called To The Bone and another $5M for Fun Mom Dinner which stars SNL alum, Molly Shannon. The biggest purchase from the most popular video streaming service was Mudbound, a drama is about a biracial friendship in the South shortly after World War II for a staggering $12.5M.

Via: Engadget
Source: Netflix, Sundance