Netflix has reached a new agreement with big theater chains to show the streaming giant’s production “Glass Onion: A Knives Out Mystery” in theaters, Bloomberg reported.
The movie, a sequel to the 2019 original, will run in theaters for a week in late November in big theaters from AMC, Regal and Cinemark, which previously have battled against Netflix’s influence. Theater operators will be able to try and make up for ground lost during the pandemic shutdowns. The stocks for theaters have been down because of those problems.
“As we have often said, we believe that both theatrical exhibitors and streamers can continue to coexist successfully,” AMC’s CEO, Adam Aron, said in a statement.
The deal will help Netflix out, too, as the streaming giant has tried to find ways to boost its big budget films. The leadership at the company has always prioritized streaming over theaters, but the company has been in search of more revenue as its subscriber growth has hit speedbumps. A share of the movie ticket sales could help with that.
The streaming giant reportedly paid $450 million for rights to two sequels for “Knives Out,” the murder mystery written and directed by Rian Johnson. The film was a surprise hit at the box office in 2019.
In addition, Netflix has changed the ways it pays stand-up comedians it platforms, with plans to give them less money but more control over their work.
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Read more: No Joke: Netflix Cutting Fees for Comedy Specials
PYMNTS wrote that Netflix has begun licensing some stand-up specials for two years and paying the comedians $200,000. That’s a decrease from some of the $1 million payouts comics got before, which went toward production costs.
The move is another way Netflix has tried to curb its spending amid the aforementioned drop in subscribers — the first time it’s happened in almost 10 years.
Several comedians have seen their profiles raised, including Hannah Gadsby and Ali Wong, and the streamer has also put out specials from big, well-known names.
