Netflix Pays $1M for 23-Page Short Story 'Understudy' to Launch Series with Steven Yeun and Lord Miller
Netflix acquired the rights to Nicholas Binge’s 23-page short story 'Understudy' for $1 million, marking a significant move to adapt short-form literature into series. The project features Steven Yeun and Phil Lord and Chris Miller as executive producers, with Binge writing the adaptation. The story, which centers on an actor in South Korea becoming entangled in a criminal conspiracy, attracted bids from seven studios. This deal highlights the growing value of short stories as source material in Hollywood, leveraging the recent success of Lord and Miller’s 'Project Hail Mary' and Yeun’s work on 'Beef' and 'Invincible'.
Key points
- Netflix paid $1 million for the rights to 'Understudy', a 23-page short story by Nicholas Binge, to develop it into a series.
- Steven Yeun and Phil Lord and Chris Miller are attached as executive producers under their first-look deals with Netflix.
- Nicholas Binge will write the adaptation, while Lord and Miller are developing with the intent to direct the pilot.
- The story follows an actor hired for a role in South Korea who becomes the center of a far-reaching criminal plan.
- Seven studios bid on the property, with Netflix emerging as the winner in a competitive process.
- Yeun is not yet attached to star, but the role is described as well-suited to him.
Background
This deal follows recent high-profile acquisitions by Netflix involving Steven Yeun, including his starring role in the supernatural drama 'Pagans,' which was also produced by his company Celadon Pictures. Yeun has recently gained critical acclaim for his work on 'Beef' and 'Invincible,' while Lord and Miller have been successful with 'Project Hail Mary' and 'Spider-Noir.' The acquisition of a short story for a million dollars underscores a trend in Hollywood where concise literary works are being prioritized for adaptation, similar to other recent deals involving short-form source material.
Why it matters
The $1 million price tag for a 23-page short story signals a shift in how streaming platforms value source material, prioritizing concise, high-concept narratives that can be efficiently adapted. The involvement of top-tier talent like Steven Yeun and the successful duo of Phil Lord and Chris Miller indicates strong confidence in the project's potential to become a hit series, potentially mirroring the success of their previous collaborations.
What to watch
Netflix will move forward with developing 'Understudy' into a series, with Nicholas Binge writing the adaptation and Phil Lord and Chris Miller potentially directing the pilot. The next steps will likely involve casting decisions, particularly regarding whether Steven Yeun will take on a starring role, and further development of the script to align with the series format.
Want the full story? Read the original reporting
Read on The Hollywood Reporter