Netflix buys Bad Trip from MGM after virus upends plans to release film in theatres

Netflix Inc. has acquired the slapstick comedy film Bad Trip from Metro- Goldwyn- Mayer, according to people familiar with the matter, snapping up a project that was stuck in limbo when the coronavirus closed movie theatres.

Comedian Eric Andre cowrote, produced and starred in the film, a hidden-camera comedy about two friends who travel around the country pulling pranks. Bad Trip was supposed to premiere at the South by Southwest Film Festival in Austin, Texas, in March, and MGM planned to release the movie in cinemas later in the year.

As theatres around the world closed, MGM began shopping the movie to potential buyers, said the people, who asked not to be identified discussing a private transaction. They didn’t provide financial details of the sale, and spokespeople declined to comment.

With movie theatres closed, studios have turned to streaming services for help. By selling a movie to Netflix or Amazon. com Inc., MGM can potentially recover its costs and satisfy the talent eager to see their project out in the world. Netflix, meanwhile, gets fresh content with well-known actors.

Similar transactions involving big- budget movies like MGM’S new James Bond film are unlikely. No Time to Die was supposed to premiere in movie theatres in April, but was delayed until November because of the coronavirus. Studios make the most money off movies that get a full run in theatres and are then licensed for home viewing.

Yet deals with streaming services are appealing for comedies and cheaper movies that have little chance of grossing US$ 1 billion at the box office.

The U. S. theatre industry has circled July for cinemas to reopen, but it’s unclear if this will happen.

MGM discussed selling Bad Trip to other online players before settling on Netflix, said the people. The film was accidentally released on Amazon on April 17, but was quickly taken down.