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Netflix announces leasing agreement to keep the Paris Theater open - Business Insider

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Netflix is keeping New York City's iconic Paris Theater open by using it for special events, screenings, and theatrical releases:

This story was delivered to Business Insider Intelligence Digital Media Briefing subscribers earlier this morning.

The arrangement is likely not an early signal that Netflix is expanding into broader national strategy for theatrical releases, but is instead a one-off strategic investment.

Owning a few high-profile theater locations can offer Netflix the ability to attract directors put off by its straight-to-streaming model and improve the eligibility of their films during award season. A growing number of directors expect any potential partnership with Netflix to leave open the possibility of a theatrical release usually for the purposes of meeting the eligibility requirements for winning an Oscar.

 

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Delighted the iconic Paris will be saved, but utterly disappointed it won’t be preserved as an “art house” style movie theater. (Yah, I know, ok boomer)

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