Netflix Movie Theatres. Sounds cool right? Well, that may become a reality in the near future. According to a report from the LA Times the streaming giant were in talks to acquire billionaire Mark Cuban’s Landmark Theatre chain. However, they backed out due to the cost. Yet all is not lost it seems. As a source from Variety claim that Netflix weren’t just interested in acquiring Landmark specifically. But are considering acquiring theatrical real estate.
Netflix Movie Theatres: Why?
Sources who have spoken to the Times are reporting that the reason Netflix are interested in purchasing theatrical real estate is due to wanting to earn the respect it deserves from major theatre chains and film establishments. But why? When the streaming giant already has the most paying subscribers than any other streaming service on the planet. (125M, compared to Amazon’s 100M) Owning a theatre would make it easier for Netflix to qualify for Hollywood awards like the Oscars.
Netflix Movie Theatres: The Oscars
As having a theatrical release is one of the stipulations that you require to be eligible for the prestigious award. Yet there are problems here too, as Netflix have always stuck to a day and date structure. Meaning that the films that Netflix have produced have always been available on streaming and on theatres. This is a major reason, according to Variety as to why many major theatre’s won’t carry a movie from Netflix unless it’s an exclusive deal. Hence the reason as to why Netflix are pushing for ‘Netflix Movie Theatres’. Netflix aren’t new to the Oscar’s space, as they won their first Oscar for Icarus this year, which simultaneously debuted in theatres and on Netflix. While they are no stranger to this scene, having their own ‘Netflix Movie Theatres’ would make life so much easier for them to put their own movies in cinemas.
Maybe there’s life in the old dog yet if the new boy still wants to hang around with the old boy!
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