After entering into negotiations last year, Netflix has announced a deal with American Cinematheque for the historic Egyptian Theatre in Hollywood. While exact amounts weren’t disclosed, the company says it will fund improvements to the site and leverage the physical location for premieres, screenings, and other events in the future.
“We’re honored to partner with the American Cinematheque to preserve the theater’s storied legacy and continue providing remarkable film experiences for audiences. We look forward to expanding programming at the theater in ways that will benefit both cinema lovers and the community,” Scott Stuber, head of Netflix Films, said in a press release.
Netflix said it will invest in renovating and improving the location so it can use the space during the week for special events. Meanwhile, the theater will remain the home for the nonprofit American Cinematheque, which will continue using the location for its own programs and events on the weekends.
Despite its online focus, Netflix has been working to acquire physical locations where it can host its own events, including premieres. Last year, the company also secured a deal for New York City’s Paris Theatre. And while eligibility rules were recently tweaked for the 93rd Academy Awards, having dedicated access to physical theaters will likely help Netflix’s efforts to become a more significant player for industry awards and accolades.
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