Technology

Netflix plans to buy cinemas for screening its movies

Netflix, an online-based US company, wants to get into the movie theater business. According to a new report by Gizmodo, many sources have revealed that the entertainment giant pursued a deal to buy the Landmark Theaters owned by Mark Cuban but ultimately backed out due to a high sale price. The idea actually makes a lot of sense, while it might sound wild for some that a company that got its start sending DVDs by mail now wants to sell popcorn and movie tickets.

Since last year Netflix has spent over $8 billion producing its own content such as movies and TV shows that can only be watched on Netflix. The fact that there is no cinema for the feature films of Netflix, disqualifies the company from winning major awards like an Oscar.

This is a big deal for Netflix because Oscars are prestigious but also because prestige wins new customers. The company says it would release 80 movies in 2018 alone.

Netflix chief content officer Ted Sarandos says,

“We want our films to be on the fairground with every other filmmaker, there’s a risk in us going in this way and having our films and filmmakers treated disrespectfully at the festival.”

Previously, Pakistan Telecommunication Company Limited (PTCL) signed an agreement with Netflix to provide Netflix Gift subscriptions for 6 months to PTCL’s 8 Mbps and above internet subscribers. PTCL is the first telecom operator in Pakistan to launch a partnership with Netflix. With Netflix looking to buy cinemas, you never know they might buy a cinema in your city.

Do you have Netflix subscription? Let us know in the comments below.

Sponsored
Mohammad Jamal

Mohammad Jamal is a technology writer whose expertise lies in writing news and review articles. He is a software engineer from Lahore and is currently using a Huawei Mate 10. Reach out to him at mohammad.jamal@techjuice.pk and Facebook: mohammad.jamal93.

Share
Published by
Mohammad Jamal
Tags: NetflixPTCL

Recent Posts

Rumors Indicate iPhone 17 May Feature Unconventional Camera Design

Apple is reportedly preparing for a significant design overhaul with its iPhone 17 series, blending…

2 hours ago

First AI-Powered Teacher Launched in Pakistan’s Private School

Karachi: A private school in Karachi has unveiled Pakistan’s first AI-powered teacher, a groundbreaking move…

4 hours ago

Yahoo Surprises Users with Its Latest Android Launcher

Third-party apps have long been a staple of the Android ecosystem, but their appeal has…

5 hours ago

Phase-II Review of PTCL-Telenor Deal Finalized by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has completed its Phase-II review of Pakistan Telecommunication…

5 hours ago

Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly…

7 hours ago

Teachers Can Now Access OpenAI’s Free AI Course

OpenAI, in collaboration with nonprofit organization Common Sense Media, announced on Wednesday the launch of…

8 hours ago