Nearly a decade after her last feature film, One Never Stops Learning, starring Anne Hathaway and Robert De Niro, Nancy Meyers would make another romantic comedy at age 73. Not only would it have been her comeback, but probably a record movie as well. With a price tag of $150 million, it was last “Paris Paramount‘ Hollywood love story project as ‘the most expensive romantic comedy of all time’.
Stars like Scarlett Johansson, Penélope Cruz, Michael Fassbender and Owen Wilson wanted to get on board, but that’s not going to happen, at least for now and on Netflix. As the Hollywood industry magazines report, the streaming service pulled the plug shortly before the planned spring/summer 2023 recordings. The reason, of course, is money: Netflix allegedly pushed for the cost to be capped at $130 million, which Meyers seems unable or unwilling to do.
But why is a romantic comedy so expensive? This has a lot to do with Netflix (and streaming services in general)…
$150 million for a RomCom? That’s why Netflix has to pay more than cinema studios!
First of all, Nancy Meyers movies are usually expensive per se – because they’re shot with big stars in places that aren’t exactly cheap and their works often look good. “One Never Stops Learning” was an exception with a budget of 35 to 40 million dollars. Her previous films such as What Women Want, What Your Heart Desires, Love Doesn’t Take a Vacation and If Love Were That Easy cost between $70 million and $85 million – and some of that was over 20 years ago!
The jump from $85 million to $150 million may sound big, but behind it is the Netflix price premium that both Nancy Meyers and all the stars and other contributors involved are likely to demand. Than the streaming service has to spend more money than movie theater studios because those involved in their films lose lucrative side income. It’s not just about the cinema shares that superstars like Scarlett Johansson, who acts here, can claim, but above all about the so-called residuals.
Residuals are additional payments to actors, directors, writers, as well as other creative collaborators for reuse or reruns. This applies, for example, to the sale of DVDs, the lending of rights to streaming services or TV broadcasts.
In the case of Netflix productions, however, the residual system, which provides creative people with continuous compensation for the further use of their work even years after completion, is usually completely eliminated. Because the idea of Netflix productions is that they only run exclusively with the streaming service – so there are no other uses later on. As a result, stakeholders — not just the stars — are demanding more money from Netflix when they are able to demand it.
In addition, there would be a real star show in “Paris Paramount”, which would also increase costs. Because even if there are only four possible stars in orbit so far, there must be at least eight major supporting characters and five minor supporting characters in the story, which must be filled with prominent faces. Meyers also wants to film in expensive Los Angeles, where her story also takes place and not in a cheaper location, which then only doubles the film metropolis.
This is “Paris Paramount” and is there still a chance?
At the center of her planned comeback film is a young author and director who falls in love with her film producer. As a couple, they make a number of successful films before separating both privately and professionally. But then a new, promising project forces them to work together again. In the midst of a job so daunting that could take her career to new heights, but ruin it, and on a set full of eccentric stars about to explode, will they privately reunite?
Whether there is still a future for “Paris Paramount” is uncertain. However, it is quite conceivable that another streaming service such as Amazon Prime Video or Apple TV + is now throwing its hat in the ring. In particular, the streaming department of the iPhone manufacturer did not shy away from high costs to win prestigious projects. And in the rom-com genre, there are few projects more prestigious than a new Nancy Meyers movie starring a superstar cast. But they, too, would have to commit to the $150 million price tag. Because the Netflix surcharge is there for the same reasons.