Why is Netflix softening its stance on theatrical releases?

Netflix is softening its stance on theatrical releases in order to retain top filmmaking talent, such as Zach Cregger and the Duffer Brothers, who have left the streamer for more theatrical opportunities.

How has Netflix's "KPop Demon Hunters" performed in theaters?

"KPop Demon Hunters" has become Netflix's first-ever #1 box office hit, earning $19 million during its theatrical release, a surprising success for the streaming giant.

What is Netflix's potential acquisition of Warner Bros. Pictures signaling?

Netflix's reported interest in acquiring Warner Bros. Pictures, a premier theatrical studio, suggests the streamer may be preparing to fully embrace the theatrical business model, a significant shift from its previous streaming-first approach.

Home / Business and Economy / Netflix Embraces Theaters to Retain Top Filmmaking Talent

Netflix Embraces Theaters to Retain Top Filmmaking Talent

10 Nov

•

Summary

Netflix loses filmmaking talent like Zach Cregger and Duffer Brothers due to streaming-only policy
Streamer releases "KPop Demon Hunters" and "Stranger Things" in theaters
Netflix in talks to buy Warner Bros. Pictures, signaling shift towards theatrical

Netflix Embraces Theaters to Retain Top Filmmaking Talent

In the past two years, Netflix has faced a growing challenge in retaining top filmmaking talent due to its streaming-first approach. Filmmakers like Zach Cregger and the Duffer Brothers have opted to exit their Netflix deals to pursue theatrical projects elsewhere, such as at Paramount.

To address this talent exodus, Netflix has been gradually embracing the theatrical experience. The streamer recently released the hit "KPop Demon Hunters" in theaters, scoring a $19 million box office weekend, its first-ever #1 spot. Additionally, Guillermo del Toro's "Frankenstein" and the series finale of "Stranger Things" have also received limited theatrical runs.

This shift in strategy has been further underscored by Netflix's reported interest in acquiring Warner Bros. Pictures, one of Hollywood's premier theatrical studios. Industry insiders suggest that if Netflix were to successfully acquire WB, it would have no choice but to fully embrace the theatrical business model.