Egyptian Theater May Be Acquired By Netflix

Netflix has always been on the shit-list of many movie studios and some in the film community. However, while the freedom to do passion projects and series has lured some of the more high-profiled creative minds behind and in front of the camera, people like Steven Spielberg has taken their presences as an affront to their way of life. It seems that Netflix is making a bigger step to appease the community by helping out the non-profit American Cinematheque’s Egyptian Theater.

Netflix is reportedly in talks to buy the Egyptian Theater on Hollywood Boulevard. I know what you’re thinking, they will tear it down and put up a Netflix theaters. According to Deadline, the deal is worth tens of millions of dollars and will put both Netflix and American Cinematheque on better footing. The deal won’t impact Netflix’s ongoing relationship with independent theater chains that show its films like Landmark and Ipic theaters.

Both parties are looking for some type of a partnership, sources said. Netflix, reportedly, will program its screenings for weekday nights while the Cinematheque runs screenings, lectures and occasional festivals on weekends on an autonomous basis. The organization will be able to expand its programming with the financial resources from this deal.

Netflix will hold occasional special screenings and events for some of its splashiest movie launches, which will allow them to have a more Hollywood feel.. Cinematheque also will continue to run its screenings at the historic Aero Theatre in Santa Monica, on which it holds a 10-year lease.

Like most nonprofits, the Cinematheque has been cash strapped in recent years. The American Cinematheque has a great membership program, but much of their draws come from free screenings that have recently included Glass, Vice, and Mary Poppins Returns. Usually, they are followed by a Q&A session with a member of the cast or director.

If the deal goes through it would be a good thing for cinephiles. Providing the deal works out the way the report claims. It will give Netflix a bigger venue to hold their films, while giving more cash to the classic movie experience that I have enjoyed with for many years.

 

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