People made movies and played them in theaters for a large profit. It worked out pretty well for them. After spending a lot of money on big movies with major stars Red Notice, Bird Box, The Irishman, The Adam Project, etc. then posting them on their streaming service, free to anyone already paying a subscription. Now they're. Perhaps they're able to turn to: people who operate movie theaters.
The president and CEO of the National Association of Theatre Owners (whose acronym, NATO, is not to be confused with the North Atlantic Treaty Organization), has offered Netflix the opportunity to make extra money off their expensive original motion pictures. (It would also assist them recover their losses, which were so bad they spent a fortune on an ad in which.)
We love those guys [at Netflix], Fithian said at a presentation at CinemaCon in Las Vegas. Ted Sarandos [its co-CEO] knows movies and TV better than anyone in Hollywood. Our doors are open to giving broader play to Netflix movies. Wed like to play more of their films, he added.
Fithian noted that the day-and-date release strategy used by some major Hollywood studios during the pandemic is a proven failure. Simply look at how films like Dune, The Suicide Squad, and The Matrix Resurrections performed in theaters or worse.
I am pleased to announce that the entire release of the film is dead as a serious business model, and piracy is what killed it, Fithian told the audience. A pristine copy of a movie makes its way online and spreads, it has a very dangerous impact on our industry.
Netflix hasn't entirely skipped theaters, but they have agreed to provide some of their films with a limited theatrical release. How well has that worked for them? Red Notice, one of the streamer's most-watched films, took a total of $178,143 in theaters off a reported budget of $200 million.
Will you one day be able to see the threatened Red Notice on a big screen with loud sound and strangers, and everything? Netflix has always been wary of this, but desperate times require desperate actions.