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Netflix reaches landmark deal with AMC, Regal, Cinemark to screen ‘Knives Out’ sequel in theaters • londonbusinessblog.com

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For the first time, a Netflix movie gets a week-long theatrical sneak preview event in 600 AMC, Regal, and Cinemark theaters across the U.S. The landmark deal marks the first time all three major theater chains have agreed to show a big-budget Netflix movie.

Viewers will have the chance to see “Glass Onion: A Knives Out Mystery,” the sequel to “Knives Out,” in theaters over the Thanksgiving weekend November 23-29, just one month before Netflix releases the film on December 23. releases its platform. Tickets go on sale Monday, October 10.

The streaming giant too announced yesterday that the film would play in select theaters in the US, Canada, UK, Ireland, Italy, Germany, Spain, Israel, Australia and New Zealand.

Netflix acquired the rights to “Glass Onion: A Knives Out Mystery” and “Knives Out 3” for a reported $450 million. The streamer probably hopes that the theatrical release will bring in new subscribers for the streamer who wants to watch the film at home. Over the summer, the company suffered a loss of nearly a million subscribers.

Adam Aron, AMC Chairman and CEO said in a statement“This announcement of our first-ever agreement with Netflix is ​​important to AMC and to movie buffs around the world. As we’ve said many times, we believe that both theater exhibitors and streamers can coexist successfully…thanks to the greater cultural resonance that these films can have in a theatrical release, they will eventually play to a wider audience if they are also viewed on streaming platforms.”

Previously, AMC, Regal and Cinemark boycott Netflix films. In 2014, the three theater chains refused to show Netflix’s first original movie, “Crouching Tiger, Hidden Dragon: The Green Legend” because the companies were unwilling to show a movie that would be streamed to users’ homes at the same time.

Also in 2019, AMC and Regal turned down to screen Netflix’s “Roma” in theaters, the first Netflix movie to be nominated for Best Picture. Next yearNetflix’s Best Picture nominees, “The Irishman” and “Marriage Story,” were also not shown in AMC or Regal.

Now it looks like AMC, Regal and Cinemark are breaking new ground, most likely thanks to the continued success of Netflix movies. Netflix took home seven wins at last year’s Oscars.

“Knives Out” was a blockbuster when it hit theaters in 2019 and earned it $311.6 million worldwide with a budget of $40 million. So we think the sequel will do well in theaters.

“Glass Onion” will see the return of detective Benoit Blanc – played by Daniel Craig – who must solve a murder during a journey to a private Greek island owned by tech billionaire Miles Bron (Edward Norton). Other stars include Dave Bautista, Kate Hudson, Janelle Monáe, Kathryn Hahn, Ethan Hawke and Leslie Odom, Jr.


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