Netflix is known for bringing online streaming around the world. It has reached another medium as, according to Business Insider, Netflix, that has over 150 million subscribers and will soon cater to the theater world. Interestingly, not the huge type of theatres but the classical ones.
Netflix Leases Historical Theatre
The online streaming company announced on Monday, Nov. 25, that they invested in a remarkable and historic movie theatre located in New York City called the Paris Theatre. Netflix signed a lease agreement with the theatre as they posted it on Twitter, saying that they wanted to save the iconic place.
Paris Theatre opened first in 1948, and it is known for its showing of French films. Currently, the only single-screen theater in the Big Apple had expired lease this year to its former owners. Netflix sees this as an opportunity and purchased the lease. In August, Netflix already reopened the said theatre to allow moviegoers, in a limited time, to screen Noah Baumbach's newest movie Marriage Story.
As the success of the theatrical release of Marriage Story grabbed the attention of most movie enthusiasts, Netflix now said that Paris Theatre would be their place "for their special events, screenings, and theatrical releases of its films."
"After 71 years, the Paris Theatre has an enduring legacy and remains the destination for a one-of-a-kind movie-going experience. We are incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers," said Netflix' CCO Ted Sarandos.
Another Theatre for Netflix?
Although Netflix's action to revive a remarkable movie theatre in New York seemed to be a wonderful thing, another issue that revolves around the streaming website is their persistent action to look for old theatres.
In April, an Egyptian-styled movie house originally owned by Sid Grauman was taken as one of Netflix's options to showcase their movies in movie theatres. Some reports even stated that Netflix was willing to pay tens of million dollars just to have this theatre.
What's the Catch, Netflix?
Netflix already captured the online streaming world. With its cheap rates and original movie productions, Netflix has gone star-studded for the past years. However, reports were saying that Netflix targets to join one of the most prestigious award-winning body, the Oscars.
Unfortunately, Oscars have their set of requirements before you can join their awards nights.
"[A film must be] for paid admission in a commercial motion picture theater in Los Angeles County ... for a theatrical qualifying run of at least seven consecutive days [in order to be eligible]," stated in Oscars' rules and eligibility.
With this rule, Netflix's decision to hunt movie theatres in the city became filled with rumors that they only wanted to be part of the Oscars for their original productions.
On the other hand, the purchase of Netflix to Paris Theatre cannot easily give the company a chance to be part of the Oscars; things might change, however, once the collaboration of online streaming world and the traditional movie theatres meet to share the screen for the audiences.
