What was once known as The God Particle, fans of the Cloverfield franchise were treated to another surprise after Super Bowl LII on Sunday when The Cloverfield Paradox dropped on Netflix. While rumors about a Paramount/Netflix deal for the film bounced around the past few months, it is fair to say that many people were still completely taken off-guard by the release of the film so rapidly, even despite numerous delays toward the project.
This appeared to others that streaming releases would boast the future of J.J Abram’s Cloverfield universe, however, The Wrap recently reported that it is likely the release on Netflix is in-part a response to frustrations over reshoots and complications and that Paramount and Bad Robot still plan on moving forward with theatrical releases of future projects starting with Overload on October 26th, 2018. The Wrap states:
The deal between Netflix and Paramount for The Cloverfield Paradox was a one-off ‘that makes the film immediately profitable.’
It appears Paramount may have been aware of difficulties with The Cloverfield Paradox and utilizing Netflix and/or other streaming services would be the most prompt way of creating profitability for both the fourth film and saving sunk costs on a theatrical release for Paradox. This is evident as the film has received very mixed reviews and responses from both critics and audiences, as the film is currently holding onto a 20% critic score and 56% audience score on Rotten Tomatoes.
It has also been reported by The Hollywood Reporter that Netflix paid upwards of $50 million for the rights and distribution of The Cloverfield Paradox from Paramount which would have covered some of sunk costs mentioned above:
“Worried that Cloverfield Paradox would perish at the box office – it was set to hit theaters April 20 after several delays – Paramount and Abrams handed it to Netflix, which is willing to shell out big bucks for high-profile content”
This comes after The Hollywood Reporter stated concerns from Paramount’s Chairman CEO – Jim Gianopulos of growing worried about the film’s upcoming theatrical release, and decided to establish plans with Netflix.
The story, set in the near future, centers on a team of astronauts on a space station making a terrifying discovery that challenges all they know about the fabric of reality, as they desperately fight for their survival.
The Cloverfield Paradox is now streaming on Netflix.
What do you guys think? Was it a brilliant move to pull The Cloverfield Paradox from a theatrical release and place it on Netflix, or would you have preferred to see the film in a theater? Let us know what you think!