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Netflix plans to buy cinemas for screening its movies


Netflix, an online-based US firm, needs to get into the movie show enterprise. In response to a brand new report by Gizmodo, many sources have revealed that the leisure large pursued a deal to purchase the Landmark Theaters owned by Mark Cuban however in the end backed out attributable to a excessive sale value. The concept really makes quite a lot of sense, whereas it would sound wild for some that an organization that obtained its begin sending DVDs by mail now needs to promote popcorn and film tickets.

Since final yr Netflix has spent over $eight billion producing its personal content material akin to motion pictures and TV exhibits that may solely be watched on Netflix. The truth that there is no such thing as a cinema for the function movies of Netflix, disqualifies the corporate from successful main awards like an Oscar.

This can be a massive deal for Netflix as a result of Oscars are prestigious but additionally as a result of status wins new prospects. The corporate says it might launch 80 motion pictures in 2018 alone.

Netflix chief content material officer Ted Sarandos says,

“We wish our movies to be on the fairground with each different filmmaker, there’s a danger in us going on this manner and having our movies and filmmakers handled disrespectfully on the competition.”

Beforehand, Pakistan Telecommunication Company Limited (PTCL) signed an agreement with Netflix to offer Netflix Present subscriptions for six months to PTCL’s eight Mbps and above web subscribers. PTCL is the primary telecom operator in Pakistan to launch a partnership with Netflix. With Netflix trying to purchase cinemas, you by no means know they could purchase a cinema in your metropolis.

Do you might have Netflix subscription? Tell us within the feedback under.

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