In a deal that has been rumored for a couple of months now, Netflix Inc. (NASDAQ: NFLX) has announced a multiyear production deal with former President and First Lady Barack and Michelle Obama. Financial terms of the deal were not announced, but since the Obamas don’t have Ryan Murphy’s track record (yet), we are pretty sure the deal is way south of the said to be worth as much as $300 million, 5-year deal.
Still, the company’s deal with the Obamas is the first of its kind for a former president. Last year the couple struck a deal with Penguin Random House for separate books, but book deals are pretty much expected for former presidents these days.
In its announcement, Netflix executive vice-president Ted Sarandos said:
Barack and Michelle Obama are among the world’s most respected and highly-recognized public figures and are uniquely positioned to discover and highlight stories of people who make a difference in their communities and strive to change the world for the better. We are incredibly proud they have chosen to make Netflix the home for their formidable storytelling abilities.
Barack and Michelle? Maybe being on a first-name basis with a former President and First Lady was part of the deal.
Netflix said that the Obamas will produce a mix of content possibly including scripted and unscripted series, docu-series, documentaries, and features for the company’s 125 million subscriber households in 190 countries.
We wonder how long it will take our current President to take a break from attacking Jeff Bezos and Amazon to lobbing a few shots at Netflix. Tomorrow morning at the latest is our bet.