The Weinstein Company announced that they are developing a sequel to the martial arts classic Crouching Tiger, Hidden Dragon and it will debut on IMAX screens and Netflix on the same day!
This 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. Variety reports that Crouching Tiger, Hidden Dragon: The Green Legend is due for an August 28, 2015, debut.
“Fans will have unprecedented choice in how they enjoy an amazing and memorable film that combines intense action and incredible beauty,” Netflix Chief Content Officer Ted Sarandos said in a statement. “We are honored to be working with Harvey Weinstein and a world-class team of creators to bring this epic story to people all over the world and to partner with IMAX, a brand that represents the highest quality of immersive entertainment, in the distribution of this film.”
“The moviegoing experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement,” added Harvey Weinstein, co-chairman of TWC. “We are tremendously excited to be continuing our great relationship with Netflix and bringing to fans all over the world the latest chapter in this amazing and intriguing story.”
I can see a bunch of teatrical exhibitors having their undies in a bunch. They will be uneasy as they are about digital distribution encroaching on their domain
A little film came out not too long ago called ‘Veronica Mars’ which stirred controversy when it became the first mainstream release from a major motion picture studio to be released simultaneously on digital-on-demand services and in theaters — mind you that movie was made on a small budget and opened in only a few theaters. Another movie ‘Snowpiercer’, was a graphic novel movie starring Chris Evans, followed a similar release model. I think we are going to see this model moving forward, but it will probably be at a cost. Nothing is free, there is always a catch – remember that. I cant see Netflix charging for a film though. There is no denying that Netflix is becoming a big contender offering original shows and films. One option is a rise in the subscription fee, which people would not go for at all (including me). Another option is offering content for a price, like Amazon Prime. The only logical scenario I can see is Netflix raising the price of its fees. It has happened before and it will probably happen again as Netflix gets bigger and bigger.
I for one am excited to see another Crouching Tiger, Hidden Dragon movie – How about you?