Netflix's latest content grab ushers the mind behind Nip/Tuck, Glee, and American Horror Story into the company. The streaming giant announced that it has penned an exclusive five-year film and series deal with writer-director-producer Ryan Murphy. According to some reports, the deal is worth as much as $300 million.

Murphy will officially start at Netflix on July 1, 2018. While most of the ideas Murphy will bring to Netflix users' screens are as yet unannounced, the company has already scored the rights to two of his forthcoming series: Ratched, a drama series about the notorious nurse from One Flew Over the Cuckoo's Nest, and The Politician, a comedy series that could star Barbra Streisand and Gwyneth Paltrow.

Despite the move to Netflix, Murphy will continue to oversee his shows currently in production on Fox and FX, as well as an upcoming FX drama series called Pose, which focuses on the transgender community in 1980s New York.

Murphy is no stranger to Netflix, as some of his shows—including Nip/Tuck and American Horror Story—already stream on the site. But now his new creations will live on Netflix exclusively for the next few years, which Netflix undoubtably hopes will encourage loyal fans of his work to subscribe to the content provider.

"Ryan Murphy’s series have influenced the global cultural zeitgeist, reinvented genres and changed the course of television history. His unfaltering dedication to excellence and to give voice to the underrepresented, to showcase a unique perspective or just to shock the hell out of us, permeates his genre-shattering work,” said Netflix Chief Content Officer Ted Sarandos.

Murphy's move to Netflix comes months after the company also poached Shonda Rhimes away from her longtime home network ABC. Rhimes, creator of Grey's Anatomy, Scandal, and How to Get Away with Murder, said Netflix allows her to provide a "vibrant new storytelling home for writers" with "unique creative freedom." Like Murphy, Rhimes continues to oversee her currently running shows on ABC even after signing with Netflix.

Disney's involvement on two fronts makes Murphy's move to Netflix particularly telling. Disney CEO Bob Iger tried to court Murphy to stay with the company after the news broke of Disney acquiring many 21st Century Fox assets. All of Murphy's existing series run on Fox and FX, networks that would be controlled by Disney if the deal goes through. Murphy was reportedly uncomfortable about the Disney deal after it was announced, as were others in the industry.

Disney also plans to remove its content from Netflix in 2019 and launch its own streaming service. At the time of the initial announcement, the company said Disney and Pixar content would leave Netflix and live exclusively on Disney's new service. Shortly after, the company confirmed that Star Wars and Marvel content will also be pulled from Netflix come 2019. Netflix has been scooping up content and creators rapidly as of late, and now the company must do so for two big reasons: to bolster all the original content it wants to produce in the coming years and to stay competitive as companies like Disney, Apple, Amazon, and others do their best to further fragment the streaming market and lock their hot properties behind their own proprietary streaming services.