By RTT News, October 14, 2013, 10:48:00 PM EDT
(RTTNews.com) - Shares of Netflix, Inc. ( NFLX ) surged nearly eight percent on Monday after the streaming video service provider struck a deal with Japanese electronics company Sony Corp.'s (SNE, SON.L) TV Studio to produce a new 13-episode original TV series for the exclusive viewing of its Internet subscribers. This is Netflix's first series production deal with a major Hollywood studio.
The new original psychological thriller series from the creators of legal drama "Damages", Todd Kessler, Daniel Zelman and Glenn Kessler, is to be produced by Sony Pictures Television and the first season will premiere only on Netflix.
"We were spellbound after hearing Todd, Glenn and Daniel's pitch, and knew Netflix was the perfect home for this suspenseful family drama that is going to have viewers on the edge of their seats. Their work on 'Damages' was truly ahead of its time and we're proud to be bringing our viewers this upcoming series," said Cindy Holland, vice president of original content for Netflix.
The plot for the series centers around a family of adult siblings whose secrets and scars are revealed when their black sheep brother returns home. The production for the series is set to begin in early 2014, with Kessler, Zelman and Kessler serving as executive producers of the one-hour drama.
The three executive producers have earlier co-created the award winning legal thriller "Damages." Todd Kessler also has the distinction of writing and producing the second and third seasons of HBO's "The Sopranos", Michael Mann's "Robbery Homicide Division," and the first season of NBC's "Providence." Meanwhile, Daniel Zelman has co-authored seven screenplays.
"We've always wanted to put our spin on a family saga and examine universal themes of family in a way that has never been seen before on television. The series is a tightly wound thriller that explores the complex bonds between parents and children, brothers and sisters, and the rivalries, jealousies, and betrayals at the core of every family," Todd Kessler, Daniel Zelman and Glenn Kessler stated.
Netflix is a Internet television network with more than 37 million members in 40 countries enjoying more than one billion hours of TV shows and movies per month, including original series.
At a low $7.99 per month subscription, Netflix members instantly watch unlimited movies and TV shows streaming over the Internet to PCs, Macs and TVs via a wide range of devices. Members can play, pause and resume watching, all without commercials or commitments.
Netflix has already won acclaims for its successfully streamed Emmy-winning political thriller "House of Cards," as well as its prison comedy "Orange is the New Black" that were produced by lesser known production companies such as Media Rights Capital and Lions Gate Entertainment Corp. ( LGF ), respectively.
Further, Netflix is reportedly in early-stage talks with several U.S. cable television providers such as Comcast Corp. (CMCSA, CMCSK) and Suddenlink Communications Inc., to make its online video service available as an app on their set-top boxes.
The proposed deal would be similar to Netflix's recently-announced deal with UK cable operator Virgin Media Inc. and would also be Netflix's first tie-up with a U.S. cable provider.
In September 2013, Netflix signed a deal with Virgin Media that would allow the company to integrate its streaming service into Virgin Media's service through TiVo set-top boxes. A similar deal was also struck with Sweden'sCom Hem.
NFLX closed Monday's regular trading session at $324.36, up $23.51 or 7.81% on a volume of 6.52 million shares, while SNE closed at $19.93, down $0.03 or 0.15% on a volume of 1.60 million shares.
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