Netflix Officially Gets In The Theater Business Signing A New, Extended Lease As Operator Of NYC’s Paris Theatre

Netflix has officially gotten involved in the theatrical exhibition business. After reopening the Paris Theatre in New York City, as a way to release Noah Baumbach’s “Marriage Story” on the big screen, it appears the streaming service is ready to go beyond the small release and keep the Paris Theatre open.

Netflix has announced that after the current run of “Marriage Story,” the streaming service has signed a lease that will keep the Paris Theatre open. The purpose of the location is a way to give Netflix a place to host screenings, premieres, and also theatrical releases for its films in NYC.

READ MORE: Rian Johnson Says It’s A “Tragedy” That More People Won’t Be Able To Watch ‘The Irishman’ In Theaters

“After 71 years, the Paris Theatre has an enduring legacy, and remains the destination for a one-of-a kind movie-going experience,” said Ted Sarandos, Netflix’s Chief Content Officer. “We are incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers.”

The Paris Theatre was opened in 1948 and began its story as a location in NYC that streamed French films. However, over the decades, the Paris became one of the premier locations for films to be showcased in the city. The location is now the only single-screen theater in NYC. The theater closed in August 2019.

READ MORE: Cineplex CEO Says The “Ship Has Sailed” Regarding ‘The Irishman’ Theatrical Release & Netflix Is “Leaving A Lot Of Revenue On The Table”

No word on what this means for the future of Netflix and theater exhibition. In the past, speculation has put Netflix at the center of discussions about the streaming service purchasing theaters around the world to showcase its own films, considering that the major chains won’t do business with the studio. Is this a one-off agreement? Or is this a sign that Netflix is ready to buy up locations around the world, eliminating the need/desire for the company to work with exhibitors that seem to have a big issue with how the streaming service does business.

READ MORE: Theater Chief Labels Netflix’s Theatrical Run of ‘The Irishman’: “A Disgrace”

Either way, for fans of the Paris Theatre, the location is alive for the time being. However, it’s basically going to be a showcase for Netflix-only films. So, it’s a tad bittersweet.