Netflix is never one to rest while its competition works hard. So now it has its sights set on buying its first movie theater. The talks are in the early stages to acquire the famous Egyptian Theatre in Hollywood.
This could be the first of many theaters perhaps, if this goes well. Netflix would apparently decide what to screen during the week, maybe giving subscribers another way to watch Netflix releases. Current owner American Cinematheque would take care of weekend programming, including festivals and lectures. This could be a big move for the company.
Netflix would likely host premieres for its awards hopefuls on the big screen, which would be fitting because the Egyptian held the first Hollywood movie premiere in 1922 for Robin Hood. This is also interesting because Netflix is facing some criticism over whether streaming services should be allowed to compete for awards like the Oscars. Interestingly Netflix’s chief content officer is on American Cinematheque’s board, but he is apparently not playing a part in the talks.
Netflix could not only show off their award contenders but use this to drum up interest for new series and movies. There are a lot of possibilities for the company here.