As Netflix continues to face criticism about its theatrical distribution strategy, it's reportedly planning to purchase a theater of its very own.
The streamer is in talks to buy Hollywood's famous Egyptian Theatre, Deadline and The Hollywood Reporter both reported on Tuesday. This historic location was the site of the first movie premiere in Hollywood history back in 1922, and it's currently owned by the non-profit American Cinematheque.
The plan would reportedly be for American Cinematheque to stay involved and continue curating weekend programming, with Netflix playing movies during the week, per the Reporter. Deadline writes that Netflix looks to use the theater for "special screenings and events for some of its splashiest movie launches," although Bloomberg says that this "doesn't signal that Netflix wants to get in the business of brick-and-mortar theaters."
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What it does likely signal, however, is Netflix's continuing desire to win over old-school Hollywood insiders and members of the Academy, who have frequently seen it as a threat to theatrical moviegoing. It's widely believed, for example, that anti-Netflix sentiments are part of what held back Roma from winning Best Picture at the 2019 Oscars. But perhaps Netflix hopes owning a theater, and using it to host big premieres for its award contenders, would help change things, especially during a year when it once again aims for Best Picture; Martin Scorsese's The Irishman is expected to receive a major push for the 2020 Oscars.
This news comes a few weeks before an Academy meeting at which Steven Spielberg, who has criticized companies that don't give their movies traditional theatrical runs, will reportedly support a rule that would affect whether Netflix movies are elliglble for Oscars. As this debate is taking place, Netflix is apparently looking to buy a location that actually has a room called the Steven Spielberg Theatre, which The Los Angeles Times' Jen Yamato described as a "master stroke of shade."
