Netflix is considering buying its own chain of cinemas, according to a report. That way, its own original films can enjoy a cinematic release, and hence be eligible for the Oscars.
The cinema chain in question is Landmark Theatres, which has venues in Los Angeles and New York. However, Netflix reportedly baulked at the price, and backed off the deal.
Not many Netflix original films get a cinema release. And those that do are available to stream at home on the same day, which has annoyed those in the traditional film industry.
Netflix's stance has seen it banned from the Cannes film festival. It's also drawn the ire of legendary director Steven Spielberg.
Buying its own chain of cinemas would give Netflix an easy way to guarantee its productions received a cinematic release. It would also give it a greater slice of the revenue from such releases.
Its cinematic plans might be on hold for now, but we'd be surprised if this is the last we hear about Netflix and traditional cinema.
Source: LA Times