Mark Duplass, a performer and creator, has secured a deal with Netflix for the distribution of his self-financed TV show 'Penelope' in the United States, revealed during SeriesFest. It first premiered at the Sundance Film Festival..
The agreement allows Mark and his brother Jay’s production company to maintain control over the show, including the decision of whether to proceed with a second season, with the added benefit of retaining VOD rental rights domestically and internationally.
Duplass penned the series during the pandemic and chose to independently fund and produce it after facing difficulty securing financing. He collaborated with director Mel Eslyn on the project.
The artist and filmmaker described the current state of the industry as heavily focused on intellectual property-driven content, with reality programming dominating at a lower budget level. However, he expressed a determination to preserve the medium-budget space that allows for compelling TV shows like 'Fleabag,' 'I May Destroy You,' and the recent Netflix success 'Baby Reindeer'.
Duplass is committed to this cause, stating, “I’m willing to lose my shirt to do it.”
He also mentioned using his earnings from his role on Apple TV+’s “The Morning Show” to finance the project.
Duplass explained to the audience that while independent films have a financing model before securing a distributor, a similar model is yet to be established for television, making this venture an experiment.
“We’ve basically absolved [Netflix] of the responsibility to make us their flagship show,” Duplass informed the SeriesFest audience. He outlined his pitch to Netflix as, “Just put us on the service. We’re going to sign a very short deal with you guys, and we’re going to see how it does. That way at Netflix, you’re not taking an oversized, outsized risk on the show.
Duplass and his brother Jay have a separate four-movie deal with Netflix and a relationship with the streamer’s CEO, Ted Sarandos.
The series' performance on the streaming platform will influence decisions regarding future seasons, such as expanding or scaling down the series.
Duplass had anticipated a bidding war after completing the series' scripts, but that did not materialize.
“No one would give us the money to make it,” Duplass revealed on Instagram.
The release date for 'Penelope' is yet to be announced.
This article contains additional reporting from TheWrap’s Jose Alejandro Bastidas.
