Netflix almost bought a theater chain to give its movies an Oscars boost


Earlier this week, Netflix released its earnings report for the quarter gone by and, it's fair to say, business is booming. Beating Wall St. expectations at every turn, the streaming giant saw year-over-year revenue surge by 43% as the company added an impressive 7.4 million new subscribers. And though Netflix CEO Reed Hastings hinted that a price hike might be on the horizon, the steady stream of original content Netflix is bringing to viewers suggests that the company doesn't really have to worry about a wave of subscribers cancelling the service anytime soon.

Netflix's success notwithstanding, the world of film remains an area where the company feels it's simply not getting the respect it deserves. Specifically, Netflix wants people to take its movie efforts more seriously, an issue which came to the forefront following word that the Cannes Film Festival banned Netflix films from the fest because Netflix didn't want to release them in theaters.

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Netflix almost bought a theater chain to give its movies an Oscars boost originally appeared on on Thu, 19 Apr 2018 at 19:22:13 EDT. Please see our terms for use of feeds.

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