Netflix To Pay More Than $90 Million For A New Will Smith Movie

Netflix will pay more than $90 million for a new Will Smith film that it snagged after a two-week bidding war.  The movie is a cop thriller called "Bright" that contains "fantastical elements" (including Orcs). Netflix will spend about $45 million to shoot the film, the same for talent, plus $3 million for the script by Max Landis.

This is Netflix's biggest push yet into blockbuster films. This purchase significantly outstrips the $60 million Netflix paid for Brad Pitt's "War Machine," which has not yet been released.
Netflix's commitment to “day-and-date releases,” meaning that movies are available to stream on Netflix the same day they arrive in theaters, will likely limit how many big screens show "Bright." 

Netflix reportedly fought off multiple other bidders, including Warner Brothers and MGM, both of whom would have given the movie a wide theatrical release.