When Netflix and The Weinstein Company signed a deal last September to make "Crouching Tiger, Hidden Dragon 2: The Green Legend" available on Netflix on same release date in big screen, it didn't get the approval of theater chains.
Recently at the 5th US/China Film Summit, Netflix's Ted Sarandos spoke about the issue and why the online video distributor sees positive outcome on day-to-date movie release of sequel to Ang Lee's "Crouching Tiger, Hidden Dragon".
"We are going to expand movie business for everyone. Movie distribution is pretty stuck in old models. A lot of models that the theatre owners have kept in place are outdated," the Netflix Chief Content officer said.
The theater chains such as Regal, Cinemark, and AMC Theaters opposed to the deal between Netflix and The Weinstein Company on the same release date on online streaming.
"While a home video release may be simultaneously performing in certain IMAX locations, at Regal we will not participate in an experiment where you can see the same product on screen varying from three stories tall to 3 inches (7.6 cm) wide on a smartphone. We believe the choice for truly enjoying a magnificent movie is clear," Regal's vice president of marketing and communications Russ Nunley stated as published at The Sydney Morning Herald as response to the day-to-date release of "Crouching Tiger, Hidden Dragon 2: The Green Legend" on Netflix and in select IMAX theaters announced late September.
But Sarandos remains optimistic in the deal, saying, "We can monetize it through subscriptions and IMAX can monetize it through ticket sales."
"Crouching Tiger, Hidden Dragon 2: The Green Legend", helmed by Yuen Wo-Ping, is set to be released on August 28, 2015. Donnie Yen and Michelle Yeoh, who will reprise her role from the Oscars-award winning martial arts epic movie, star in the film.
Recently, Adam Sandler has signed a deal with Netflix to four films he will star in and produce. He said as cited on Redding.com, "When these fine people came to me with an offer to make four movies for them, I immediately said yes for one reason and one reason only: Netflix rhymes with wet chicks. Let the streaming begin!"
