Despite Eddie Murphy having a bit of a renaissance at the moment, it seems that Paramount Pictures wanted to reduce its risk a bit when it comes to Beverly Hills Cop 4.
According to a report from Deadline, Paramount has struck a one-time licensing deal for Beverly Hills Cop 4. It will allow Netflix to make the long-gestating revival as an original film.
It is believed to be a decision made to try to cut down on some of the risk studios have been taking lately with grosses coming in far lower than expected on films like Doctor Sleep, Terminator: Dark Fate, and Zombieland: Double Tap. By going this route, Paramount Pictures gets a guaranteed fee, and no risk of a poor box office result.
And for Netflix, it allows the company to attach its name to a high profile property.
This seems like a really smart way to do this, and if it works, we could see a lot more of this down the road. It would allow studios to open up their vaults a bit more to see what else could be revisited and earn some revenue for next to no risk.
No word yet on a production schedule for Beverly Hills Cop 4.
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