According to Variety, the Grammy-winning singer locked down a $60 million contract with the streaming giant.
The deal was for three exclusive specials, including the newly released Homecoming documentary that centered on Beyoncé's 2018 Coachella performance.
It was reported that HBO—which aired her 2016 Lemonade visual album among other projects—tried to secure the film, but was unable to beat Netflix's last-minute offer.
It's still unclear just how much Netflix paid for Homecoming, but sources tell Variety that the figure was around $20 million.
Representatives for Netflix and Beyoncé did not respond to the outlet's request for comment.
Coinciding with the documentary's release, Queen B delivered a surprise 40-track live album of the historic set as well as Homecoming-themed merch.
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