Netflix Price Hike Helps Bag $10 Million Alexandria Ocasio-Cortez Documentary

Shortly after Netflix announced it would be raising the costs of subscriptions for U.S customers, the movie streaming giant just splashed out $10 million to secure a documentary on Alexandria Ocasio-Cortez.

Bearing the politically provocative title of Knock Down the House, the movie was subject to a bidding war at the Sundance Film Festival last week, where Netflix outbid competitors such as Amazon and Hulu to gain rights to air it on their platform.

The $10 million figure was only revealed this week, however, and it immediately takes its place in the record books as the largest purchase ever recorded for a documentary film at Sundance.

Netflix Economics

As discussed previously on Hacked, the price hike enacted by Netflix – which saw standard subscriptions rise from $7.99 to $9.99 per month – is unlikely to affect the company in a negative way. While the stock price did stumble earlier in the week, it recovered 2.6% rapidly just days later.

HD and multi-screen subscriptions were subject to the largest price hike in the company’s history – from $10.99 up to $12.99; an increase of over 18%. The premium plan, which encompasses streaming on four seperate devices, rose from $13.99 to $15.99, making it more expensive than competitor HBO NOW for the first time in its history.

One of Netflix’s main advantages is its international user-base – one which reached as high as 117 million in 2018. Only 55 million of those users came from inside the U.S, which begs the question: how did a documentary about a regional political representative in New York’s 14th district become the most sought after cinematic property in Sundance history?

Knock Down the House

According to the plot summary:

“The film follows four women who decided to run for Congress in the 2018 United States elections: Alexandria Ocasio-Cortez of New York, Amy Vilela of Nevada, Cori Bush of Missouri, and Paula Jean Swearengin of West Virginia. Vilela, Bush, and Swearengin lost in the primary round, but Ocasio-Cortez won the election.”

Whether it’s true or just an attempt at legend, the story goes that director Rachel Lears began working on the film the day after Donald Trump was elected president.

The film won the Sundance Favourite award last Thursday, and has accumulated a score of 6.1/10 from twenty-four votes on IMDB; and a 100% positive score from eight early reviews on Rotten Tomatoes. On reviewer from IndieWire gave the film a ‘B’ rating, adding:

“Stylistically, the film isn’t at all fussy: on-screen graphics are straightforward and informative, and Lears leaves the editorializing out of her introductory captions, though the film’s score often proves manipulative during the most unnecessary of times.”

With recent Sandra Bullock starrer, Bird Box, estimated to have been viewed by over 80 million households, it will be interesting to see if Knock the House Down translates just as well to an international audience. Although, Netflix can probably afford to take a hit for the sake of pushing its new political favourite.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.