Netflix has found its physical market in theatres
Netflix has signed a lease to keep the iconic New York Paris Theater open. According to a press release, it will be used for special events, screenings, and theatrical releases. Considering the pushback by theatres over showing Netflix content, could this be the first of many?
A New York professor said that Apple TV+, Amazon Prime Video, and Disney+ would win the streaming war because streaming wasn’t all they did. The professor is right. Netflix, to compete needs to diversify. Spending $15 billion a year on content amazingly isn’t enough.
Thinking outside the box
Netflix crushed Blockbuster Video. They’ve probably killed cable TV, too. Netflix doesn’t stop when they hit a wall — they break the wall and then stride onto the next immovable object. They’re now against the biggest corporations in the world. They need to become multi-faceted like their competitors are.
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Theatres are more than movies
Netflix is a content machine. They have intellectual properties out the wazoo and no physical places to sell merchandise.
Just imagine: You’re in New York, near the Paris Theater. Netflix is premiering Beverly Hills Cop 4 and has decked it out in merchandise, dancing Axel Foley’s and other Comic-Con inspired fun.
As a Netflix subscriber, you can book a seat for free. The only catch is that you’ve got to somehow walk-through merchandise and not buy something. It wouldn’t just be Beverly Hills Cop, but Stranger Things et al. The merchandise opportunities are endless, Unbreakable Kimmy Schmidt gobstoppers. Endless, I tell you.
Either that, or Disney will have already purchased a controlling stake.