Streaming leader Netflix Inc (NASDAQ:NFLX) is expanding a content deal with Barack Obama and Michelle Obama's media company Higher Ground that was first signed in 2018.
What Happened: Higher Ground and Netflix are extending their partnership with a new multiyear first-look deal for film and TV projects, that comes as the Obama-led company has expanded its offerings to include movies, series and sports content.
The Netflix deal comes after the success of "Leave the World Behind," which was one of the most watched films on Netflix in the second half of 2023.
Deadline reported the new extended partnership.
Other Higher Ground content on Netflix includes "Bodkin," "Rustin," "American Symphony" and "Working: What We Do All Day."
"From the beginning, Netflix has championed our projects, helping them flourish and reach millions across the world," Higher Ground president Vinnie Malhotra said. "We're thrilled to build on our stellar creative partnership and to deliver more ambitious films and series.
Netflix chief content officer Bela Bajaria said the company is delighted to continue the relationship with Higher Ground on developing more "ambitious, compelling and entertaining stories."
"If there's one thing that's defined President Barack Obama and Michelle Obama's creative ambitions since we started our partnership with Higher Ground, it is their pursuit of an exceptional story that brings the human experience to light," Bajaria said.
Related Link: Barack Obama Shares 13 Favorite Movies Of 2023, Including 3 He Produced: Did 'Barbie' Or 'Oppenheimer' Make The List?
Why It's Important: Along with the viewership success of "Leave the World Behind," Higher Ground projects like "Rustin" and "American Symphony" were nominated for Academy Awards.
Future projects from Higher Ground for Netflix include "All The Sinners Bleed," "Hello Beautiful," "Dyersville," "Frederick Douglass: Prophet of Freedom" and more.
Higher Ground is also producing a documentary on the Olympic Basketball Tournament in the 2024 Summer Olympics with Words and Pictures, the team that was behind the highly acclaimed Chicago Bulls and Michael Jordan sports docuseries "The Last Dance."
"From gripping thrillers to heartfelt comedies and profound documentaries, we have so much that we look forward to sharing," Malhotra said.
NFLX Price Action: Netflix shares were up 2.4% to $669.38 on Friday versus a 52-week trading range of $344.73 to $664.25.
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