Digital entertainment giant Netflix is reportedly thinking to buy theatres to screen its online movies. The streaming service was reportedly in talks with billionaire Mark Cuban for his Landmark Theatres group– a chain of movie halls across the United States. However, the deal went south over the cost of the group. 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 a report said that Netflix killed the deal due to the cost involved, its interest in buying theatres reveals its plans for the future. Netflix currently has around 125 million paying subscribers across the globe.
Netflix was blocked out of Cannes Film Festival due to a new rule that films have to be screened in French Theatres first to be eligible for the Palme d’Or award. Oscars awards are also given to the movies that have been released on the big screen.
Netflix films like Beasts of No Nation and Mudbound were released in some theatres, the movies were simultaneously released on Netflix. Major theatre chains won’t release a movie which was simultaneously streaming on Netflix.