Netflix Movies Get Cozier With Theatrical Distribution

Key Points:

• “La Bola Negra,” a generational queer drama starring Penélope Cruz, has gained significant acclaim, winning the jury prize for best director at Cannes and securing a $5 million Netflix deal, with a 46-day theatrical release before streaming.
• Netflix is planning its longest theatrical rollout for “La Bola Negra,” signaling a potential shift toward embracing traditional theatrical exhibition, with upcoming films like Greta Gerwig’s “Narnia: The Magician’s Nephew” and an animated “Charlie and the Chocolate Factory” also set for extended cinema runs.
• Industry insiders view Netflix’s move as a sign of the company reconsidering its streaming-first model, especially as it prepares to report box office grosses for several upcoming releases, a practice Netflix has historically avoided.
• Netflix’s theatrical distribution, led by Spencer Klein since 2019, has seen milestones such as its first No. 1 box office weekend, and the company is cautiously experimenting with longer theatrical windows while maintaining its streaming priorities.
• Despite speculation about a strategic shift, Netflix insiders emphasize that extended theatrical runs are decided on a case-by-case basis, reflecting a tailored approach rather than a wholesale change in distribution philosophy.