Beyoncé's Homecoming is still giving the Beyhive life after its Netflix debut. But news has now come out that HBO was set to show the documentary before Netflix jumped in.
According to Vulture's sources, HBO did have conversations with Beyoncé's team concerning airing the documentary. They were interested, but Netflix came in with a bigger offer. The number Netflix paid for the special is still unknown, but apparently, it was too big for HBO to justify matching.
This is a big coup for Netflix, since it means they undercut the buying power of a legacy organization like HBO. HBO has had a long-running relationship with Beyoncé starting in 2013 with her Life is But a Dream documentary and including her 2014 On the Run concert special and Lemonade in 2016. If the older networks weren't worried about Netflix's muscle before, they should be now.
Netflix has been quickly amassing tons of high-profile content in recent years, which might be part of the reason the service has had to raise its prices to counteract its large debt. But if Beyoncé's involved, being in debt is probably a small price to pay for streaming domination.