Netflix will adapt best-selling memoir 'Hillbilly Elegy' into a movie after a fierce bidding war, and reportedly spend $45 million

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Ron Howard will direct and produce the adaptation of best-selling memoir "Hillbilly Elegy."

• After a bidding war, Netflix will finance the movie adaptation of best-selling memoir "Hillbilly Elegy" for $45 million, according to Deadline.
• The movie will be directed and produced by Ron Howard.
• According to the trade, not all the $45 million will go into the production of the movie, which may be a sign that the streaming giant is looking at the movie being another award-season favorite down the road, like "Roma."

Netflix doesn't seem to be letting its foot off the gas when it comes to providing subscribers Oscar bait.

On the heels of "Roma" garnering 10 Oscar nominations, on Friday Deadline reported that the streaming giant will spend $45 million to make an adaptation of the best-selling memoir, "Hillbilly Elegy." This has the feel of another award-season contender for Netflix.

Ron Howard and Brian Grazer's Imagine Entertainment nabbed the book rights in 2017, and after a competitive bidding war, Netflix has come out on top to finance it. The $45 million Netflix will pay to make the movie is almost double any other offer Imagine got, according to Deadline.

Howard, coming off directing "Solo: A Star Wars Story," will direct and produce the movie, which has not been cast yet.

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"Hillbilly Elegy" is the 2016 memoir by J.D. Vance, which looks back on his life growing up in the "Rust Belt" and examines the everyday struggle of the Appalachian working class, which includes drug addiction and economic challenges.

Deadline reported that the $45 million Netflix is putting into the movie will not all go to production, which could mean that the company is looking to do a traditional theatrical award-season run like it did with "Roma."

Netflix was not immediately available for comment.