Netflix reportedly eyes cinema purchase as it chases Oscars success

Netflix released its first feature film 'Beasts of No Nation' in 2015 / Netflix

Netflix is reportedly looking into purchasing movie theatres to help it get ahead of the Oscars game.

According to the Los Angeles Times, the streaming giant is contemplating buying cinemas in both Los Angeles and New York as it looks to compete in the awards race.

Exposure to theatre audiences would likely help Netflix’s cause with original reports suggesting it had been interested in Los Angeles’ Landmark Theatres, co-owned by Mark Cuban, which is known for screening “first-run” movies, documentaries and international films during Academy Awards season.

“Netflix wants to establish itself as a critical exhibition source on both coasts,” a source told the press. Those close to Netflix have disputed rumours about the Landmark Theatres acquisition, however, for awards consideration it needs to be able to release pictures “on screen” in major markets.

Currently, Netflix operates a “day-and-date” strategy, releasing films nominated for awards online on the same day the open in theatres.

Netflix has aimed to land an Oscar nod since the release of its first original feature film, 'Beasts of No Nation', back in 2015.

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