Netflix made a decision that surprised a lot of people, but we are talking about a very important one meant to seriously help the company in the future, one that was still necessary, and was seen by many in the industry as imminent. Netflix decided to buy a movie theater in the US to be able to distribute the movies it produces, and that's because the movie theater chains ask it to grant them exclusivity that the company doesn't agree with.
Netflix has decided to buy a movie theater in Los Angeles called the Egyptian Theater, and some of the movies from his platform will be available there, including the latest ones. Netflix is obliged to distribute its films in cinemas in the US so that they can be considered for the Oscar awards, and buying a cinema was the only solution to be able to fulfill this obligation and participate in the awards.
Netflix: The decision of a premiere that SURPRISED a lot of people
Netflix he did not reveal how much he is going to spend to buy this cinema, but it is more than likely not a small amount, but the company has enough money to do whatever it wants. Netflix has tens of billions of dollars ready for various investments in films and series, so spending several tens of millions of dollars for a cinema is not exactly a financial effort for the company, and probably at some point we will find out the amount of the transaction .
“The Egyptian Theater is an incredible part of Hollywood history and has been cherished by the Los Angeles film community for nearly a century. We are honored to partner with the American Cinematheque to preserve the theater's historic legacy and continue to provide outstanding film experiences for audiences. We look forward to expanding programming at the theater in ways that will benefit both moviegoers and the community. "
Netflix he doesn't want to change what is distributed through this cinema either, apart from the fact that he will also project his own films, that is, the purpose for which he decided to buy the location. Netflix will not even close down the location for any period of time to make any changes there, so everything will go on as usual and now, which is very good news for Americans who used to go to watch the movies.
Netflix they could also buy other locations if they consider it worth having their own cinemas in which to distribute their films, but for now there are no plans in this regard.
