If rumors are true, it appears that Netflix has an interesting solution to their theatrical distribution issue – just buy some theaters.
With the biggest knock on the streaming service from filmmakers being the lack of theatrical distribution, the Los Angeles Times is reporting that Netflix may be interested in purchasing a theater chain of their own. According to the report, they even approached the Mark Cuban-owned Landmark Theatres about the opportunity.
However, the LA Times “sources” say that the deal fell apart. “One of the knowledgeable people said Netflix decided not to pursue a deal because executives believed the sale price for Landmark was too high,” said the report.
Netflix has recently been the center of some controversy regarding the way they distribute films. This year, the streaming service removed all their films from consideration for the upcoming Cannes Film Festival due to a rule about French theatrical distribution. And stateside, where Netflix might make a play at some theaters, the streaming service continues to figure out how to ensure their films are able to be considered for Academy Awards.
By purchasing theaters of their own, Netflix will bypass the theater owners that don’t want to show their films because they launch day-and-date on the streaming service. Plus, by allowing their films to have short runs on the big screen, they’ll be eligible for Oscar consideration and filmmakers will get the opportunity to have their films screened in the preferred format. It seems like a win-win situation for all those involved.
Netflix has never been shy about spending money. Executives continuously flaunt their seemingly never-ending bank account by spending hundreds of millions of dollars on original content. Purchasing a small theater chain could be seen as a necessary evil and yet another venture for the company that is attempting to revolutionize Hollywood.
