The streaming giant is reportedly looking into buying cinemas, something that could give their original content a better chance of winning big awards.
According to the Los Angeles Times, the Netflix considered buying LA’s Landmark theatres but backed out because the price exceeded their budget. Netflix refused to comment.
Buying cinemas will help Netflix secure more major awards, like the Oscars, for its original content. The reported decision to purchase cinemas seems to follow on from the current conflict between Netflix and Cannes. The ‘feud’ began when Cannes banned Netflix from competing for the prestigious Palme d’Or. As a result of the ban, Netflix pulled out of Cannes entirely.
“We want our films to be on fair ground with every other filmmaker,” Sarandos told Variety. “There’s a risk in us going in this way and having our films and filmmakers treated disrespectfully at the festival. They’ve set the tone. I don’t think it would be good for us to be there.”
Showing original content in theatres, would mean that Netflix’s original films will be allowed to compete in Cannes and other big film competitions.
An analyst from MKM Partners, Eric Handler, said: “It seems Netflix would like to get some of its movies for Oscar contention or other types of industry awards. They’re trying to get credibility. Netflix took off when a couple of their own titles got nominated for Emmys. That lent credibility to what they’re doing. If they can do that for various awards, that might raise the platform a little bit.”
