The Netflix authentic film, Glass Onion: A Knives Out Mystery, was launched in theaters earlier than coming to the streaming platform. This distinctive launch mannequin was a serious success, Netflix co-CEO Ted Sarandos mentioned in the course of the firm’s earnings launch this week, based on Deadline.
“I’m thrilled with every aspect of the release of Glass Onion,” Sarandos mentioned when requested if he had any regrets about releasing it in theaters first. “I think what you saw was a lot of excitement. We drove a ton of buzz with that theatrical release, and we created a bunch of demand and that demand we fulfilled on our subscription service.”
Putting Glass Onion in theaters helped drive demand for the Netflix launch and was a profitable advertising transfer, Sarandos mentioned.
“Our core business is making movies for our members to watch on Netflix, and that’s what we’re really focused. Everything else is really a tactic to drive excitement around those films,” he mentioned.
Glass Onion debuted in theaters over the Thanksgiving weekend and performed in theaters for every week earlier than coming to Netflix on December 23. The film earned $15 million from its very restricted theatrical run, setting a file for a Netflix film.
Netflix founder Reed Hastings mentioned placing Glass Onion in theaters was purely a “promotional tactic” to assist drive engagement and subscriptions to Netflix. “We are not trying to build a theatrical business,” Hastings mentioned, based on Deadline.
In different Netflix information, Hastings is stepping down as co-CEO and turning into govt chairman of Netflix. As for the Knives Out collection, Rian Johnson is returning for a 3rd Knives Out film.