February 22, 2015
This year, the Los Gatos, California company is represented in the Documentary Category with 'Virunga'. With Leonardo DiCaprio as Executive Producer, the documentary examines endangered gorillas in the Congo's Virunga National Park and the threat they face from oil drilling.
Increasingly, Netflix is expanding its profile and reach. According to VentureBeat, the company has surpassed 53 million subscribers worldwide. With streaming entertainment continuing to grow as a preferred method of content delivery, companies like Netflix and Amazon are taking more chances on producing their own films, in addition to television shows, the L.A. Times reports:
"We live in an always on, connected world where consumers walk around with an HD movie screen in their pockets," said Richard Greenfield, a senior analyst at investment firm BTIG Research. "Yet the movie industry lives by antiquated release windows that not only frustrate consumers, but fail to maximize studio profitability."
Already, by partnering with Weinstein Co., Netflix is making inroads with a studio that can help it gain stature in the world of feature filmmaking. In August, 'Crouching Tiger, Hidden Dragon: The Green Legend' will debut simultaneously on Netflix and in select Imax theaters worldwide. The original movie, of course, won an Oscar for Best Foreign Language Film in 2001.
How soon might Netflix become a bona fide producer of Oscar nominated films? Deals to make four Adam Sandler movies and a Judd Apatow-produced Pee-Wee Herman flick are probably not going to achieve that kind of recognition from the Academy. What those projects will attract are viewers for a growing platform that can change the way we watch, discuss and evaluate films.
Netflix has already proven it can bring in big names for its TV serials. With new partnerships and added competition from Amazon, it might not be too long before streaming films receive mainstream critical attention.
