Netflix now has its own cinema. The Paris Theatre in New York is a historic single-screen venue and is not the only cinema the company is interested in.
Netflix is also reportedly working to buy the Egyptian Theatre in Los Angeles. “After 71 years, the Paris Theatre has an enduring legacy, and remains the destination for a one-of-a-kind movie-going experience,” said Chief Content Officer Ted Sarandos in a statement.
“We are incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers.”
This move from the online streaming giant seems necessary if the company still wants to work with high-profile filmmakers like Martin Scorsese and Noah Baumbach and chase the golden Oscar statue.
Netflix failed to convince major theatrical chains to show Scorsese’s “The Irishman”, mainly because the company would only wait four weeks before releasing the movie online.
The movie is still playing in theaters but only on a limited number of screens. Owning or leasing its own theaters gives Netflix the chance to hold glamorous premiers for its releases and hold award shows and other events. Netflix signs a long-term lease for Paris Theatre in New York.