Netflix says it will ‘reinvigorate’ the movie business, but theaters may not play a part in its plan
|07/18/2017||Posted by BusinessMediaguide.Com under General World News||
Netflix wants to reinvent movies in the same way it did TV, according to its Q2 earnings letter posted Monday.
In the letter, Netflix focused on the importance of shaking up the movie business, which has seen dwindling numbers of people going to theaters.
“Just as we changed and reinvented the TV business by putting consumers first and making access to content more convenient, we believe internet TV can similarly reinvigorate the film business (as distinct from the theatrical business),” Netflix’s letter read. “This year we will release 40 features that range from big budget popcorn films to grassroots independent cinema.”
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