Beyonce has landed a monstrously profitable gig with Netflix worth approximately $60 million. That covers three projects for the viral singer. The first of the three specials is “Homecoming,” the behind-the-scenes documentary chronicling her 2018 Coachella performance. It premiered on April 17th. The price tag on this installment, for which Beyonce Knowles-Carter is credited as executive producer, writer, and director, hovers around $20 million.
Vulture is reporting that HBO has also shown interest in the project, having had a long relationship with Knowles-Carter (the cable network aired her 2016 “Lemonade” film as well as her 2014 “On the Run Tour” concert special with husband Jay-Z and 2013 doc “Life Is But a Dream”), but backed out when Netflix came in with a more lucrative offer.
“With the release of “Homecoming,” Beyonce also surprise-dropped a 40-track accompanying album that includes two bonus cuts near the end: “Before I Let Go” and “I Been On.” The former is a cover of a Frankie Beverly & Maze classic featured in the documentary’s closing credits, while the latter is an updated version of a song that was uploaded to SoundCloud back in 2013. And more music is coming. As Variety recently reported, the audio to her 65-minute “Lemonade” film, which had only lived on Tidal, the subscription streaming service helmed by Jay-Z, will be available on all streaming services starting April 23. It stands to reason that her future Netflix projects will also include a music companion.
“Is the R&B matriarch worth such a hefty price? Considering the press-shy performer rarely consents to interviewers, films like “Homecoming” offer fans an up-close look at Beyonce’s creative mind at work as well as her tireless work ethic. In addition, it allows for a peek at her life off the stage, where she’s mom to three, including twins born 10 months before her Coachella performance. “What people don’t see is the sacrifice,” says Beyonce in one of the movie’s many voiceover segments. “I definitely pushed myself further than I knew I could. And I learned a very valuable lesson. I will never, never push myself that far again.”
“Netflix’s previous forays into exclusive music content includes last year’s “Springsteen on Broadway” special, Lady Gaga’s “Gaga: Five Foot Two,” released in 2017, the Quincy Jones doc “Quincy” and the critically lauded series “Remastered.”’
Netflix has been shelling out big bucks in new overall deals with content creators, with Ryan Murphy ($250 million), Shonda Rhimes ($100 million), Dave Chappelle ($60 million) and Chris Rock ($40 million). And they’ve significantly raised their membership rates recently. The streaming service recently announced that they have added a whopping 9.6 million subscribers to their service in the first quarter of 2019. The massive jump in subscribers brings its global membership total to 148.9 million. It is the biggest jump for a single quarter in company history.
Both Beyonce and Ariana Grande signed huge contracts worth $8 million ($4 million per weekend) each to headline the Coachella Valley Music and Arts Festival according to a Friday report from The Blast.
Looks like Netflix is bowing down to Queen Bey. Her followers worship her almost as a deity would be. And there is no doubt she is a money-making powerhouse. The Beyhive is swarming around these announcements as are the media outlets. But is she worth it?