Netflix has shelved Nancy Meyers' upcoming film Paris Paramount over budgetary concerns. Meyers is known for her romantic comedies and dramas, such as What Women Want, The Holiday, and It's Complicated. Paris Paramount was set to be her first film since 2015's The Intern, with Meyers already in talks with a stellar cast that included Owen Wilson, Scarlett Johansson, Michael Fassbender, and Penélope Cruz. It is said to tell the story of two filmmakers who fell in and out of love before being forced onto a new project.
As reported by Deadline, Netflix became weary of Paris Paramount's growing budget, with the streaming service ultimately opting to shelve Meyers' project. Netflix agreed to a budget of $130 million, but the director was pushing for $150 million, with the two coming to an impasse. Since an agreement couldn't be reached, Paris Paramount will be put on pause.
Will Paris Paramount Find A New Home?
Meyers has a long history of turning out movies that are feel-good audience pleasers that can also turn a profit, with her work attracting impressive talent. She's worked with Jack Nicholson, Diane Keaton, Keanu Reeves, and Frances McDormand on Something's Gotta Give, and Meryl Streep, John Krasinski, and Steve Martin on It's Complicated. Meyers' last film, The Intern, starred Robert De Niro and Anne Hathaway, and The Holiday featured Kate Winslet, Jack Black, and Cameron Diaz.
Paris Paramount was lining up a star-studded cast of its own, which makes it an enticing project for a studio that offers audience appeal. Despite an impressive pedigree, Netflix is being frugal with expenditures following their own financial concerns; the service has seen subscriptions dwindle and is now attempting to crack down on password sharing. However, another streaming service or a studio looking for a broad-appeal romantic comedy for theaters may yet see value in Paris Paramount.
Meyers' name carries weight, and when combined with a glitzy cast, she has proven successful. Another streaming service, such as Prime Video, Hulu, or Apple TV+, may swoop in to save the film. However, Meyers may have to continue to fight for the reported $150 million budget, which may be steep for most streamers. Therefore, while Paris Paramount's future is unknown, Meyers and her talented cast could still find a home elsewhere.
Source: Deadline