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Netflix original films could have been screened in theaters according to a recent report as the behemoth streaming service company is said to have considered buying theater locations from Landmark Theaters. Though the company has not apparently backed out and will no longer move forward with the potential plan to buy theaters for this purpose it wasn’t stated if Netflix is still considering to purchase theaters at some point in the future. According to the report Netflix moved away from its intention of purchasing Landmark theater locations (which were in the Los Angeles and New York City areas) because the price for them was more than what Netflix was willing to pay.
Netflix moving into the cinema industry would likely be a big hit to other theaters, as Netflix has already taken a chunk out of the revenue that theaters would have acquired thanks to the company’s increasing popularity with consumers choosing to forego theaters and stream movies and other content at home instead. Netflix has also been increasing the amount of original content that it’s been pushing out over the last couple of years, and it has said that it plans to spend upwards of $8 Billion in 2018 alone on more original content as well as content that it intends to license from other companies.
Netflix’s continued commitment to original and licensed content, which is said to be around 80 new pieces of content in 2018, displays that subscribers have latched onto the films and TV shows that the streaming service company has been releasing, so it only makes sense that Netflix would want to continue launching new original films and TV shows. Netflix was reportedly banned from attending the Cannes Film Festival this year which would have been a major outlet for the company to show off original content. At Cannes in 2017 it showed off the original film Okja. Netflix has also reportedly been locked out of major theater chains with its original films, though it has been able to make deals with some smaller theaters in the past.