Netflix and the cinema experience have never seen eye to eye, with the streamer preferring to keep its content on its platform. Does their decision to report on box office performance mean there’s a change in tactic coming? Blake & Wang P.A. entertainment attorney, Brandon Blake, takes a closer look.
Change in Strategy
Even when they have a hit on their hands, it’s rare to see Netflix indulge in anything more than mandatory award-season box office runs. Likely because for every hit, there is inevitably a flop to receive similar scrutiny. However, it’s been clear from the start that they anticipate La Bola Negra finding its niche in this awards season. It’s interesting that that film will also be where they start releasing more box office data. While the film is still opening to limited release, with just 4 screens, it will also include the longest theatrical exclusive window we’ve seen from them so far, at 47 days.
A New Model, or a Coincidence?
This release has been carefully managed to not damage later streaming viewing. It’s pretty clear they are hoping that having a strong per-screen average will generate awards season buzz for the film. It’s still a notable change in tactics for the streamer, however.
We’ve seen their keenness on the theatrical model increase since their failed bid for Warner Bros. early this year. They have several strong releases in the works, including some IMAX releases and tentpoles like Narnia. With that in mind, it’s not hard to see La Bola Negra as their test case for reporting. A way to build new relationships (and screen access) with exhibitors, while courting a higher caliber of filmmakers than they’ve used before. Let’s also not lose sight of the fact that we have hit a plateau for streaming subscriptions, but they still need a growth vector. The cinema crowd may be exactly who they need.
As always, Netflix is playing its cards close to its chest. But it’s hard not to see this sudden swing towards more, and bigger, theatrical releases as a strategy shift, hoping to keep its reputation as the “king” of streamers, even as the streaming market itself starts to correct from the boom era.
