While Netflix continues to dominate the television and movie streaming market, reports have been quick to surface claiming that the entertainment media company is interested in purchasing theaters in order to get their own movies up on the big screen. According to the Los Angeles Times, the streaming enterprise was in talks to buy out Mark Cuban’s Landmark chain, however, later backed out due to cost.
This potential strategy comes shortly after Netflix’s chief content officer, Ted Sarandos announced that it will be pulling out from the prestigious Cannes Film Festival following last year’s ruling forbidding any films that haven’t been distributed in theaters from playing in the competition. With that said, the thought process behind owning its own theater chain would then make it easier to qualify for other such award ceremonies, including the Oscars, which also requires films to see a theatrical release. Netflix already abides by a day-and-date structure, choosing to show films simultaneously in theaters and via streaming, however, ownership of its very own theaters would change the game completely.
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