With the Paramount consent decrees being struck down, Netflix looks like it is taking its first step into the theatrical exhibition business.
Following the reopening the Paris Theatre in New York City in order to release Noah Baumbach’s “Marriage Story” on the big screen, the streaming service is ready to keep going and has signed a lease that will keep the Paris Theatre open.
The location gives Netflix a place to host screenings, premieres, and also theatrical releases for its films in New York City. The Paris Theatre, opened in 1948, is now the only single-screen theater in the city.
Ted Sarandos, Netflix’s Chief Content Officer, says in a statement: “After 71 years, the Paris Theatre has an enduring legacy, and remains the destination for a one-of-a-kind movie-going experience. We are incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers.”
With the famed location shuttering in August this year, the deal now keeps it alive and running – albeit only for Netflix films.
Source: The Playlist