Magazine article Screen International

US Briefs: Netlix CEO Says Exhibitors “Strangling” Business

Magazine article Screen International

US Briefs: Netlix CEO Says Exhibitors “Strangling” Business

Article excerpt

Netflix CEO Reed Hastings has hit out at cinema exhibitors for stifling innovation in the theatrical distribution world.

"Movie theatres are strangling the movie business," Hastings reportedly said this week at the New Yorker magazine's TechFest event. "There's been no innovation in the movie business in the last 50 years."

Hastings claimed that an "oligopoly" among exhibitors is causing the Hollywood studios to fear reprisals if they experiment with distributing films directly to consumers.

Earlier this week Netflix announced a deal with luxury US exhibitor iPic to release ten original films in theatres on the same day as the films become available for streaming by Netflix subscribers.

The National Association of Theatre Owners responded to the deal with a statement saying that "Simultaneous release, in practice, has reduced both theatrical and home revenues when it has been tried. …

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