Benzinga | Nov 11, 2021 06:35AM EST

Netflix Looks To Expand Japanese Catalog By Incentivizing Filmmakers

Netflix Inc (NASDAQ:NFLX) is seeking to expand its Japanese content beyond anime library.

What Happened In an interview with Variety, Netflix VP of Japanese Content Sakamoto Kaata discussed how the Los Gatos-based company plans on coveting Japanese filmmakers by offering them a slew of incentives including a streamlined distribution plan and the possibility of theatrical releases.

"We span series, films, and unscripted TV. But [the pivot to film is because] very simply lots of audiences love watching films," Sakamoto said.

"Films going to festivals and then finally go into theaters [is the traditional way]. But Netflix has global viewing reach. That is very attractive for so many creators."

Sakamoto also highlighted that the caliber of filmmakers and directors being pursued would be in line with the likes of Martin Scorcese and Steven Spielberg, with the company's latest acquisition Kore-eda Hirokazu's films being touted for an English re-make by the latter.

The Japanese VP also touched on the possibility of theatrical releases -- something that Netflix has been in two minds about in markets such as the United States --but reiterated that the focus would remain streaming.

"Theatrical releases are possible for some projects," Sakamoto explained. "We will do day-and-date. But our main focus will remain our Netflix service."

Price Action Shares of Netflix are priced at $646.91 per share at the market close on Wednesday, November,10.