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Netflix Makes Power Moves And Is Set To Acquire Iconic Egyptian Theatre

Netflix makin’ money moves.

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Netflix is growing with no apparent end in sight. With monthly increases in earnings, subscribers, and available movies and shows, the digital platform giant has seen quite the positive trajectory. What else does the streaming service have up its sleeve for this year?

Six months ago, Netflix announced plans to buy a production studio in Albuquerque, New Mexico. The massive facility would allow Netflix to shoot and create their original shows from one central location. Up next on the docket for the media provider? Buying Hollywood Boulevard’s iconic Egyptian Theatre.

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Negotiations have begun over Netflix acquiring the historic movie theater. Opened in 1922, the theater is touted as the site of the first Hollywood film premiere, Robin Hood. Over the years, the cinema has held prestigious events with even more prestigious guests and has become a landmark for Hollywood inhabitants and tourists alike.

Since its origination, Netflix has never shown its long-feature productions in movie theaters. “Refuse” is the word that better comes to mind. That might change, however, if the platform buys the Egyptian Theatre. Though the streaming giant has already established itself as a movie-industry icon, the deal would cement Netflix as a major investor in the business. Netflix is not playing games, folks. For its first theater-buy ever, the platform stands to cough up $10 million.

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We knew Netflix was inching its way towards a move like this for some time. Several months ago, the company joined the Motion Picture Association of America (MPAA). You know the MPAA as the group that sets movie ratings. The association also represents the names in TV and film including Paramount Pictures, Sony Pictures, Universal Pictures, Walt Disney Studios, and 20th Century Fox. Netflix becoming the sixth member of the organization proves the platform is now one of the big shots. With its own production studio, MPAA membership, and potentially the Egyptian Theatre in its grasp, Netflix has unlocked the key to ultimate streaming success.

These are certainly power moves for the streaming company. The original content that’s going to be produced after all dotted lines have been signed will be a force with which to be reckoned. Godspeed!

Need more binge-worthy television? See the most recent additions to your favorite streaming service here.

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