Beyoncé's Homecoming is part of a three-project Netflix deal reportedly worth $60 million

Variety

Variety reports that the streaming giant has committed to three projects from Beyoncé as part of a "whopping $60 million" deal, including "around $20 million" for Homecoming: A Film By Beyoncé. Netflix was able to lure Beyoncé away from HBO the high-priced offer. HBO had a long relationship with the singer, having aired her Lemonade special in 2016 and 2013 documentary Life Is But a Dream and On the Run concert special in 2013. Vulture reported Thursday that HBO was "interested" in Homecoming, but "Netflix stepped in with a ridiculously big money offer and HBO couldn’t justify matching such a steep price tag." Variety also reports that "Netflix declined comment for this story, although a source at the company disputed the financial terms of the deal."