Netflix may be looking to purchase its first movie theater. According to reports, the company is in talks to acquire the iconic Egyptian Theatre in Hollywood. If it ends up purchasing the theater, it would then supposedly decide what to screen during the week. This would give subscribers another way to watch Netflix releases.
Deadline Hollywood reports that if Netflix ends up purchasing the theater, it would decide what to screen during the week, while the existing owner American Cinematheque would decide the weekend programming. This may include lectures and festivals.
Sources cited in the report say that both parties are looking at this as more of a partnership. The deal would enable Cinematheque to expand its programming thanks to the financial resources from this deal. Netflix will be able to hold occasional special screenings and events for some of its biggest movies.
Netflix may also host premieres for its original productions that are up for awards. That would be a very fitting use for this location given that the Egyptian has the honor of holding the first Hollywood movie premiere back in 1922 for Robin Hood. Netflix Chief Content Officer Ted Sarandos happens to be a board member of American Cinematheque and according to sources, he has recused himself for voting on this arrangement.
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