Netflix’s status as a powerhouse in movie industry has received another boost with the news that the streaming giant has landed Martin Scorsese’s next film, a gangster flick featuring Robert De Niro titled The Irishman.

The legendary director had originally lined up the $100 million project to be packaged with Paramount, which released Scorsese’s previous movie, Silence. However, changes at the top of Paramount following a disappointing 12 months for the studio have caused Scorsese to have second thoughts and he has chosen to conclude a deal for his project elsewhere, report IndieWire.

Martin ScorseseMartin Scorsese's 'The Irishman' is reportedly moving to Netflix

“Scorsese’s movie is a risky deal, and Paramount is not in the position to take risks,” a source reportedly told the entertainment site on Wednesday (February 22nd). “This way, he can make the project he wants.”

The 74 year old maestro’s big-budget Silence, which starred Andrew Garfield, Adam Driver and Liam Neeson and which was a pet project of Scorsese’s for years, underperformed drastically at the box office, only pulling $7.1 million in the States on the back of a cost of $46 million.

More: Andrew Garfield says Martin Scorsese is a “gift” to storytelling

That The Irishman is another such labour of love for Scorsese, a biopic of mob hitman Frank Sheeran in the 1970s, and with a budget reportedly over twice as large, Paramount has presumably gotten cold feet at the prospect of another such risk.

De Niro is to star as Sheeran, representing the ninth time the iconic actor has worked with Scorsese but the first since 1995’s Casino. More significantly, it will also reportedly feature Al Pacino, who has never starred in a Scorsese picture before. Other reported stars including Bobby Canavale and Harvey Keitel, and there are even rumours that Joe Pesci will be lured out of retirement.

If the reports are true, it marks yet another significant shift in the way movies are distributed and consumed, with Netflix’s original content roster and its release schedule getting more impressive all the time.

More: Adam Driver on Martin Scorsese and the paternal-like relationship between actors and directors