Entertainment

Netflix has no plans to buy a movie theater chain, co-CEO says

File Photo: Netflix Executive Ted Salands arrives at the world premiere of his movie “The Irishman” on September 27, 2019 in New York City, New York City, USA. REUTERS / Carlo Allegri / File Photo

September 28, 2021

Lisa Rich Wine

Beverly Hills, California (Reuters) – Netflix Inc is not considering buying a cinema chain, co-chief executive Ted Salands said Monday. The refusal of speculation swirled after the world’s largest streaming service bought two movie theaters.

The company owns one theater in New York, which it purchased in 2019, and Los Angeles, which it purchased in 2020. Netflix uses movie theaters to host movie premiere and showcase some of the original movies.

At a Vox Media code conference, when asked if Netflix could buy a theater chain next, Saranos replied “no.”

He also hopes the theater will survive the rise of home streaming, but said that if the audience could watch more shows at home, they would have less travel to local cinemas.

“I think (watching movies) will be less frequent and probably more frequent,” he said. “Using it as an event to leave the house, people will still be looking for it.”

Salandos also said the recently released Korean horror series “Squid Game” is becoming Netflix’s biggest non-English title to date and could be the most popular show to date. Told.

“I didn’t expect it to come in terms of global popularity,” Salandos said.

The most watched show today, measured in total viewing time, is the romantic drama Brigerton, Salands said. The most popular movie to date is the Sandra Block Thriller “Birdbox”.

(Report by Lisa Richwine, edited by Stephen Coates)



Netflix has no plans to buy a movie theater chain, co-CEO says

Source link Netflix has no plans to buy a movie theater chain, co-CEO says

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