Netflix Plans To Buy Movie Theatres For Better Oscar Chances

Netflix Wants To Create Its Own Movie Theater Chain

Reports said that Netflix's interest in movie theatres is not limited to buying Cuban's company specifically, but it is considering to buy theatrical space.

While no further deals for Netflix to buy any other cinema chains have been laid out on the table, the idea of Netflix eventually owning a cinema chain wouldn't necessarily come as a huge surprise. The Landmark theaters are well known for attracting awards voters by running first-run features, documentaries and foreign films during Oscar season. Beating Wall St. expectations at every turn, the streaming giant saw year-over-year revenue surge by 43% as the company added an impressive 7.4 million new subscribers. Landmarks has three Los Angeles locations and 53 theaters across the U.S.

Netflix films like Beasts of No Nation and Mudbound were released in some theatres, the movies were simultaneously released on Netflix.

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The Los Gatos, Calif., company has explored the idea of buying movie theaters in Los Angeles and NY that would enable it to screen a growing pipeline of feature films and documentaries, according to people familiar with the situation. Many believe the movie would have garnered more attention if it had been given a cinema release.

But because the films re available to stream immediately on Netflix, the company misses out on the buzz and word-of-mouth anticipation that sustain award-winning films from competing studios. The video streaming service has even said it won't be attending the Cannes Film Festival this year simply because its films would never be able to win any awards there. "The festival adopted a new rule that means if a film is in competition at Cannes, it cannot be watched on Netflix in France for the following three years".

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