Netflix gets revolutionary deal with Crouching Tiger sequel release rights

Crouching Tiger Hidden Dragon Netflix

Netflix has changed the Hollywood game by obtaining co-release rights for the “Crouching Tiger Hidden Dragon” sequel.

Netflix was able to reach a deal with The Weinstein Co. to obtain same day release rights for “Crouching Tiger, Hidden Dragon: The Green Legend” which is the official sequel to “Crouching Tiger Hidden Dragon.” The film is set to release on August 28, 2015 and will be released in IMAX theaters and Netflix on that same day.

In a dramatic rebuke of the traditional theatrical release, Netflix and The Weinstein Co. have signed a deal to release the sequel to Ang Lee’s Crouching Tiger, Hidden Dragon simultaneously on Netflix and in select Imax theaters around the world.

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Netflix is an official game changer!

If the debut of one feature film wasn’t enough, it turns out that Netflix is expecting more than just “Crouching Tiger Hidden Dragon: The Green Legend.” While nothing has been officially confirmed, Netflix claims that there will be several major films to follow same-day debut on their streaming network.

Netflix said Crouching Tiger 2 will be the first of several major films to be given a day-and-date release on Netflix and in some Imax theaters.

Could this be the dawn of the end of movie theaters? The theaters are already getting their fair share of pressure with streaming mediums like VOD (Video On Demand) and the lack of profit sharing between theaters and the studios. If Netflix starts getting feature films on their debut date then theaters could crumble. Right now it’s just one film with the promise of several but if that number continues to grow then movie-goers may become homebodies and movie theaters will suffer the same fate as drive in theaters.

What do you think this means for the future of movie theaters?

[Source: Hollywood Reporter]

Ryan

Author: Ryan

Ryan has been fascinated with film and pop culture since childhood. Throughout college he "played it safe" taking the more lucrative route of being a computer programmer while squeezing in film related courses where he could...but even during his post college career, he could never escape his true passion. After following one of his favorite blogs for a long time, he approached the site's Editor about writing and they reluctantly gave him a shot. He later became their Senior Writer which led to a variety of other projects, radio show appearances, features, and high profile celebrity interviews. Despite his success with blogging, he still wanted more so in order to expand his creative addiction, he merged his IT skills and blogging know-how to create FilmFad.com which has continued to grow into a creative Mecca of pop-culture fun and integrity.[email protected]   Film Fad

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