Netflix May Acquire 'House of Cards' an original television series starring actor Kevin Spacey, directed by The Social Network’s David Fincher

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Netflix to Produce Original Programming?

March 16, 2011

Mail-order and online streaming video service Netflix is reportedly in talks to acquire the political drama "House of Cards."

BY TRACY PFEIFFER
ANCHOR ANA COMPAIN-ROMERO

You're watching multisource business news analysis from Newsy


It’s a story analysts are calling Hollywood’s worst nightmare -- mail-order and online streaming video company Netflix is reportedly looking to acquire its first original programming. Chicago Fox affiliate WFLD has more.

KORI CHAMBERS, ANCHOR: “According to Deadline Hollywood, Netflix is in negotiations to acquire an original television series directed by The Social Network’s David Fincher and starring actor Kevin Spacey. The talks are said to be part of a larger behind-the-scenes effort by Netflix to hit up Hollywood production companies for original material to entice new subscribers.”

Netflix currently controls 61 percent of the digital movie business, but a writer for Deadline Hollywood, who broke the story, says the company has been feeling the heat from...

“...Amazon.com, which last month announced it was entering the subscription streaming-media business, and Facebook, which last week announced a deal with Warner Bros... In fact, on the day the Facebook/Warner Bros. deal was announced, Netflix's shares fell 6%.”

Despite the competition, correspondents for Fox Business say, Netflix is still going strong -- and original content would only keep the company moving forward.

NICOLE PETALLIDES, REPORTER: “Yesterday, Goldman Sachs put a $300 price target on Netflix and they raised it to a buy, so while the market was tanking, Netflix was up nearly 8 percent yesterday.”
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