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Netflix’s film move has cinemas fuming
BIG cinema chains in the US and Canada are to boycott Netflix’s first original feature film, a sequel to the martial arts movie Crouching Tiger, Hidden Dragon.
The online streaming service announced it is to release the Weinstein Company’s follow-up to the Oscar-winning hit simultaneously on Netflix and in Imax theatres next summer.
But the deal has been slammed by big exhibitors such as Regal Cinemas and Cineplex Entertainment in Canada. “The in-theatre experience is the best forum to experience a movie,” said Cineplex’s Mike Langdon, in a statement to CBC News. Cinema share prices have taken a hit – AMC Entertainment, Regal Entertainment Group and Cinemark Holdings all fell by one per cent or more.