Netflix

Netflix

Netflix has reached a deal with The Weinstein Co. for its first original movie — a sequel to Ang Lee’s 2000 martial arts pic “Crouching Tiger, Hidden Dragon” — set to hit IMAX theaters and the streaming-video service simultaneously next summer. The film, “Crouching Tiger, Hidden Dragon: The Green Legend,” is slated for a Aug. 28, 2015, debut. Produced by Weinstein Co., the movie is the first of several major films to premiere day-and-date both on the SVOD service (at no extra charge) and in select IMAX theaters worldwide. Financial terms of the pact were not disclosed. Netflix has been eyeing day-and-date releases of movies, as chief content officer Ted Sarandos said in a keynote last year at the Film Independent Forum in Los Angeles. The launch of the movie is likely to catch the ire of exhibitors — who have in the past viewed digital encroachment on theatrical windows as a threat.

Read the full story at Variety.

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"Netflix to Produce and Stream ‘Crouching Tiger, Hidden Dragon’ Sequel" by @ShellyPalmer

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