Eddie Murphy, Netflix in talks for $70M stand-up comedy comeback: Report
Nicholas Wealth Management President David Nicholas and FBN's Deirdre Bolton on the future of Netflix.
Netflix is reportedly in talks with Eddie Murphy for a series of comedy specials that could net the legendary comedian an estimated $70 million, sources tell TMZ.
Murphy, who hasn’t been part of the stand-up circuit for 30 years, revealed he is considering making a comeback with fellow comedian Jerry Seinfeld during a new episode from Netflix’s “Comedian in Cars Getting Coffee.”
"I'm going to do it again. Everything has to be right,” he said.
The potential $70 milion paycheck is not completely out of the neighborhood of some of the previous headliners on Netflix. Comedian Dave Chappelle earned $60 million for three stand-up specials in 2017, and Chris Rock banked $40 million for his two specials.
The venture has its critics.
“Where is Netflix getting the money to potentially pay Eddie Murphy?” Nicholas Wealth Management President David Nichols said on “Varney & Co.” on Friday. "They are not cash flow positive. They are borrowing."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| T | AT&T INC. | 22.99 | +0.31 | +1.37% |
| DIS | THE WALT DISNEY CO. | 113.54 | -1.54 | -1.34% |
| NFLX | NETFLIX INC. | 847.05 | +23.09 | +2.80% |
Netflix, unlike rivals AT&T and Disney, is coming from behind and will burn through $3.5 billion of cash in 2019, according to Nichols. He said AT&T and Disney have the ability to create new products because of their positive cash flow.
“They’re going to really have to improve their user situation or else Wall Street is going to have to figure out how they are going to justify this $400 price target,” Nichols said.
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Netflix’s U.S. subscriber base declined in the second quarter with a net loss of 126,000 paid users. The streaming service's 5 million international subscriber mark fell short with 2.83 million users.