Netflix Top Movie Breaks Records with $230 Million Budget

Netflix has really made a splash with its latest film, “Back in Action.” The movie, which stars Cameron Diaz and Jamie Foxx, cost a whopping $231.7 million to make. It’s a classic spy comedy featuring a couple of retired CIA spies who get back into the game when their identities are compromised. With a supporting role from Glenn Close, the cast is top-notch.

While critics weren’t too keen on the movie, giving it a low score on Rotten Tomatoes, audiences flocked to it. In its opening week, “Back in Action” racked up an impressive 88.9 million hours of viewing, landing it at the number one spot on Netflix’s list of most-watched English movies.

Filming took place primarily in the U.K., where studios benefit from a government initiative that reimburses up to 25.5% of expenditures. In order to qualify for this reimbursement, studios must meet certain criteria, including having a portion of their core costs related to activities in the U.K.

Netflix was smart in taking advantage of this incentive by shooting parts of “Back in Action” in Slovenia and Atlanta as well. This allowed them to maximize their reimbursement and keep costs in check. Additionally, the U.K. offers no limit on the amount that can be paid out, making it an attractive location for film production.

Despite the hefty budget, Netflix expressed satisfaction with the movie’s performance against budget. The key takeaway is that while the film may have cost a pretty penny, it hit the mark in terms of viewership and success. With a strong cast, strategic filming locations, and a savvy financial strategy, “Back in Action” proved to be a winning formula for Netflix.