Netflix is reportedly looking into buying theaters

midian182

Posts: 7,782   +80
Staff member

From humble beginnings, Netflix has grown into an industry behemoth with over 125 million subscribers worldwide. But what could be the next step for the streaming site? According to recent reports, the company is considering buying physical movie theaters.

Citing people familiar with the situation, the Los Angeles Times writes that Netflix has been exploring the possibility of purchasing movie theaters in New York and LA and using them to screen its original content.

A small number of Netflix films such as Okja and First They Killed My Father have released simultaneously in theaters and on the site, but Variety reports that major cinema chains won’t carry a movie that uses this day-and-date release format.

The situation has caused issues when it comes to Netflix’s films competing for awards, especially at Cannes. Both Okja and The Meyerowitz Stories were eligible for the Palme d’Or award last year despite their lack of theatrical runs in France, which caused a lot of controversy and saw both movies booed by audiences.

“Last year, when we selected these two films, I thought I could convince Netflix to release them in cinemas. I was presumptuous, they refused,” said festival head Theirry Fremaux.

The situation led to Netflix being banned from competing for the Palme d’Or last month, and the company subsequently pulled out of the event completely.

Not only would it help promote its movies, but having its own theaters could also ensure Netflix is eligible to compete for major industry awards. It’s already looked into buying Mark Cuban’s Landmark Theatres in Los Angeles but decided against any deal as the price was reportedly too high.

Despite spending $8 billion on original content this year, some filmmakers still turn their noses up at Netflix. Steven Spielberg said its movies shouldn’t be allowed to compete for Oscars, while The Dark Knight and Dunkirk director Christopher Nolan has also been critical of its movie policies.

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kapital98

Posts: 396   +356
Buying theaters in the US would not change the Cannes issue. There are strict eligibility requirements for Cannes that requires the movie to be screened in France and that it cannot be released, iirc, for streaming services 3 years after being shown in theaters.

Buying theaters in the US, or anywhere outside of France, is not going to make them eligible for Cannes.

This is more likely a way for them to get ahead of the curve and prevent future problem.
 
D

DelJo63

STUPID business move which only adds expense and impacts the bottom line.
 

Evernessince

Posts: 5,469   +6,157
Is the movie industry so robbed of artistic integrity that it's willing to host a pidge podge award including only the "good old boys"? An award means nothing if you are excluding half the possible contestants. Shame on Steven Spielberg and anyone else that allows these award shows to ignore legitimate entrants.
 
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wiyosaya

Posts: 7,489   +6,296
Is the movie industry so robbed of artistic integrity that it's willing to host a pidge podge including only the "good old boys"? An award means nothing if you are excluding half the possible contestants. Shame on Steven Spielberg and anyone else that allows these award shows to ignore legitimate entrants.
(y)

Netflix does not need to enter the Hollywood, Bollywood, Francywood or any other movie awards to produce superb original content. IMO, it is already producing superb original content without the "industry standard" awards crap.
 

Ravey

Posts: 350   +152
I would go to a Netflix Theatre if my Netflix membership included free access to their theatres...

It would be a great place to maybe show re-runs of movies you may have missed at the mainstream cinema as well as Netflix exclusives...

Depending on how they market this.. It could be very profitable.