According to the Hollywood Reporter, Netflix shelled out over $50 million to Paramount for the streaming rights of The Cloverfield Paradox.
The project had a litany of issues: not testing well, multiple production setbacks. Paramount and producer J.J. Abrams saw this deal with Netflix as a way for both companies to get what they want, with Netflix receiving a high profile movie and Paramount actually making a profit off of it.
Paramount retains home-release and Chinese distribution rights, as well as rights to all future Cloverfield productions, so when all is said and done, Paramount could come out even better on this than anticipated.
Check out our review of The Cloverfield Paradox dropping on February 13.