LOS ANGELES (BLOOMBERG) - Netflix has signed a three-project deal with artist Beyonce Knowles-Carter worth US$60 million (S$80 million), Variety reported, citing unidentified people familiar with the matter.

The first of the projects is Homecoming, which premiered on April 17 and cost around US$20 million, Variety said in the report, on Friday (April 19).

A representative for the artist, popularly known as Beyonce, did not respond to Variety's requests for comment.

Netflix declined to comment to Variety.

An unidentified Netflix executive has disputed the financial terms of the deal to the magazine.