In the future, you could be watching a film inside a Netflix-owned theater. The company is considering opening its own movie theaters as a way to raise its profile during awards season. Theaters in Los Angeles and New York City, according to the Los Angeles Times and Variety, would be used to screen films and documentaries for critical acclaim.
Although the company could open its own locations, Netflix has reportedly considered purchasing Landmark Theatres. The Mark Cuban-owned chain features less than 100 locations in the U.S. and screens lesser-known work alongside mainstream films.
The potential acquisition, though, is believed to be off the table at this point. Netflix may have decided against purchasing Landmark Theatres because of a high price tag. Since the company’s expanding fine with an online-only business model, there’s no urgency to overpay for movie theaters.
Netflix’s original programming never stops growing. As the company invests more money into acquiring content, it’s experiencing growth in subscribers. Now the video streaming juggernaut has nearly 130 million subscribers around the world who are watching countless hours of dramas, comedies, documentaries, specials, and more. But the company wants to improve its chances of being applauded by critics and thus receive additional awards.
The company has already earned a number of awards for its series and documentaries in the last few years, but Netflix could believe it needs physical locations for screenings to boost films.
Film festivals in the U.S. and around the world have kept Netflix out, and movie theater chains like AMC have also ignored its content. Owning movie theaters, even if it’s just a handful of them, allows Netflix to hold screenings to build credibility within the film industry.
So far, Netflix hasn’t achieved much success with its films. Yet there is no plan to stop purchasing films and distributing them on its service. Netflix remains committed to rolling out films, hoping one will burst through and generate global recognition.