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Amazon In Running To Acquire Landmark Movie Chain (bloomberg.com)

Posted by BeauHD on from the brick-and-mortar dept.

According to Bloomberg, Amazon is in the running to acquire Landmark Theaters, a chain focused on independent and foreign films with more than 50 theaters in 27 markets, including high-profile locations in New York, Philadelphia, Chicago, Los Angeles, and San Francisco. From the report: Landmark's theaters are known for art-house fare, and some high-end locations include coffee bars or lounges, setting them apart from the typical movie experience. "This is probably a move to get broader distribution of film content," said Leo Kulp, an analyst with RBC Capital Markets LLC. "Netflix had been discussed as a potential buyer of Landmark for a similar reason." The possible move was viewed positively by investors, who saw it as a sign that Amazon wasn't looking to disrupt moviegoing and was supportive of the theatrical experience, Kulp said.

1 of 15 comments (clear)

  1. Re:News for nerds. by alvinrod · · Score: 4, Informative

    That was my thought. However, the academy seems to have snubbed the online streaming services in the past. I remember that Beasts of No Nations didn't receive any nominations despite being well regarded and receiving nominations (and even wins) in many other awards.

    Cannes even recently changed their rules to prevent anything that doesn't get a theatrical run in France from entering the competition. Normally this wouldn't be a problem as Netflix could just do a single theater release, except there's another strange French law that prohibits films from appearing on streaming services until 36 months after their theatrical release.

    I suspect that some of it might also be as a potential way to recoup costs from big budget productions like Game of Thrones where you could do a theatrical release every few years that might pull in a few tens of millions of dollars that you might not otherwise get. Occasionally you make a 90 minute episode that gets a theatrical release. I bet that even people who own the subscription service would pay to see it on a big screen, especially if it's a kind of fantasy epic like Game of Thrones.