Netflix appears to be taking its theatrical releases more seriously. According to reports, the streaming giant will report box office grosses for six of its upcoming films.
While Netflix has largely engaged in limited releases for its films to drum up Oscar buzz, that strategy appears to be changing for several films on the streamer’s release schedule, according to Variety. Films such as La Bola Negra and Greta Gerwig’s Narnia: The Magician’s Nephew will receive extended theatrical releases, with the latter also receiving an IMAX release.
One possible outcome, according to an industry executive quoted in the report, is that Netflix could eventually seek to own and operate a theatrical distribution entity. This was supported by its willingness to buy out Warner Bros. After that deal fell through, Netflix might instead look to build direct relationships with theatrical distributors.
However, it still remains unclear why Netflix, which has locked horns with theatrical distribution on numerous occasions, seems so keen on publishing its box office numbers along with its viewership.
What upcoming Netflix movies are getting theatrical releases?
Narnia: The Magician’s Nephew, Greta Gerwig’s adaptation of C. S. Lewis’ The Magician’s Nephew, will enjoy a theatrical run of almost 50 days. Charlie vs. the Chocolate Factory, which the streaming giant is adapting as an animated film, will be on the big screen for at least 47 days around Christmas in 2027. La Bola Negra is also going to receive a 46-day exhibition on the big screen.
Netflix, despite historically favoring a streaming-first distribution strategy, particularly during the COVID-19 pandemic, appears to be placing greater value on theatrical releases, and the money that it brings in cannot hurt either.
Another notable development is Netflix’s decision to report the box office grosses for these films, which have, for the longest time, been a metric by which the industry has made stars, championed directors, and even shaped trends. While streaming success has traditionally been measured through viewership, Netflix’s decision to disclose those figures could be a broader business strategy with longer-term implications.
Originally reported on ComingSoon.net.
