Netflix has inked a lease agreement to keep New York’s iconic Paris Theatre open to the public.
Moving forward, the streaming service plans to use the cinema for special events, screenings, and theatrical releases of its films.
The move comes a week after the Department of Justice announced it will terminate rules prohibiting studios from owning the theaters where their movies play.
“After 71 years, the Paris Theatre has an enduring legacy, and remains the destination for a one-of-a-kind movie-going experience,” Netflix Chief Content Officer Ted Sarandos said in a statement.
The 581-seat single-screen picturehouse has charmed filmgoers since it opened in 1948, when actress Marlene Dietrich cut the inaugural ribbon.
Located in midtown Manhattan—across the street from the famed Plaza Hotel—it is often credited with introducing renowned foreign-language films to American audiences, including flicks from Marcello Mastroianni, Franco Zeffirelli, and Claude Lelouch.
When owner Pathé Cinema lost its lease in 1990, Loews Theatres took over, renaming the landmark Fine Arts Theatre. In 1994, the space was purchased by New York real estate developer Sheldon Solow; as of 2009, City Cinemas has operated it.
Following a successful showing of Ron Howard’s Pavarotti documentary, the theater shuttered in August before reopening this month for a limited run of the Noah Baumbach dramedy Marriage Story, starring Adam Driver and Scarlett Johansson.
“We are incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers,” Sarandos said.
Netflix has been kicking the tires of numerous brick-and-mortar spaces, most recently The Egyptian Theatre in Los Angeles.
A Netflix-owned cinema would mean longer (if not unlimited) viewing seasons for original content—including every cheesy Christmas romcom, Always Be My Maybe, El Camino, Unicorn Store, The King, and maybe even Living With Yourself, The Politician, or Queer Eye.
Snagging American Cinematheque’s esteemed art house could put the streaming service in good standing with the cinephile community. Or at least help qualify original films for the Academy Awards.
Hollywood legend Steven Spielberg famously pooh poohed streaming movies at Oscar contenders—days after Netflix walked away from the annual event with three golden statues for Alfonso Cuarón’s stunning Roma.
But banning streaming platforms from the ceremony could raise antitrust concerns and violate competition law, according to the U.S. Department of Justice, which warned the Academy against limiting the eligibility of Netflix and it ilk.
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