Netflix is willing to put its films in theaters — but not before online release
What is the role of theaters as streaming platforms become film studios? That question is floating around an anxious film industry as Netflix, Amazon, Hulu, and other video streaming services rapidly contract talented filmmakers and make aggressive acquisitions at big-name festivals. Amazon has cooperated with theaters, releasing awards-friendly films like Manchester by the Sea and Chi-Raq in cinemas before making them available to subscribers. But Netflix has been doggedly committed to releasing every new film directly onto Netflix, even when it hurts at the Oscars. And today, we got a small explanation why.
In Netflix’s shareholder letter, the company delivered the following defense of its release strategy:
Since our members are...