Netflix has struck a blow to Walt Disney and 21st Century Fox by signing Ryan Murphy, the producer of US tv hits equivalent to Glee and American Horror Story, in what has been hailed as one of many largest offers of its form.

Mr Murphy is the most recent high producer to swap the normal Hollywood studio system for the web streaming world after Netflix employed Shonda Rhimes, creator of Gray’s Anatomy and Scandal, from Disney’s ABC final August.

Netflix has dedicated a $300m price range to Ryan Murphy Productions over a number of years to supply TV sequence and movies solely for its streaming service.

The $300m determine, confirmed by an individual conversant in the phrases, places it among the many largest TV manufacturing offers ever signed, estimates the Hollywood commerce publication Deadline.

The producer shall be a loss for each Fox’s TV division and for Disney, which is within the means of acquiring the Fox unit. Simply final week, Disney mentioned it had signed the creators of HBO’s Recreation of Thrones to write down and produce a sequence of Star Wars movies, because it prepares to launch its personal streaming service to rival Netflix.

Although Netflix declined to touch upon the phrases, the deal exhibits the excessive greenback worth that high Hollywood expertise is ready to command as tech corporations vie with conventional media teams for unique programming, bidding up costs within the course of.

“Ryan Murphy’s sequence have influenced the worldwide cultural zeitgeist, reinvented genres and altered the course of tv historical past,” mentioned Ted Sarandos, chief content material officer at Netflix. “His unfaltering dedication to excellence and to provide voice to the under-represented, to showcase a novel perspective or simply to shock the hell out of us, permeates his genre-shattering work.”

At a time when Hollywood has come underneath higher scrutiny for sexual harassment, Mr Murphy hailed the deal as a win for variety, thanking Netflix for “believing in me and the way forward for my firm which can proceed to champion girls, minorities and LGBTQ heroes and heroines”.

“The historical past of this second shouldn’t be misplaced on me,” he mentioned. “I’m a homosexual child from Indiana who moved to Hollywood in 1989 with $55 in financial savings in my pocket, so the truth that my goals have crystallised and are available true in such a significant approach is emotional and overwhelming to me.”

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