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Netflix Could Start Buying Movie Theaters to Help Films Gain a Boost in Oscar Race, Report Says (indiewire.com)
Netflix has made a strong effort to land Oscar nominations since debuting its first original feature, "Beasts of No Nation," in 2015. The next step in the streaming giant's plan to secure film awards could be to buy and own movie theaters. IndieWire: A new report from the Los Angeles Times says Netflix is considering buying theaters in Los Angeles and New York in order to gain a boost during Oscar season. People familiar with the situation say the theaters would be used to give greater exposer to the feature and documentary titles Netflix is hoping to push into the awards race. According to the Times, Netflix executives originally considered purchasing the Los Angeles-based Landmark Theaters, which is co-owned by Mark Cuban. The theaters are well known for attracting awards voters by running first-run features, documentaries, and foreign films during Oscar season. Sources close to Netflix confirm the company has no current plans to buy Landmark properties. Landmark has three Los Angeles locations and 53 theaters overall in the U.S. Sources close to Netflix.
Fundamentally, Netflix created movies are the same medium as theatrical releases. Netflix has series that have won Emmy's. They want the same shot for their other content, particularly their documentaries.
There are a few good reasons for Netflix to want to do this.
- Competition for and Recognition of Talent: Netflix's shareholders and such might not care if a movie gets any nominations. The actors, writers, and directors probably do.
- Competition for Content: If someone makes a documentary, they shop it around. If the ownesr are hoping to win an Oscar, they will disregard Netflix if going with them means no chance of an Oscar.
- Free Advertising: Being able to point to movies that have won awards may attract subscribers.
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