Netflix just signed a 10 picture deal with luxury theater chain iPic Entertainment to screen their original movies in theaters, the same day they premiere on the SVOD service. What once took a 6-12 month ‘window’ for a theatrical movie to reach home viewing, is now instantaneous.
These movies will play in iPic’s LA and NYC theaters, with a possible wider release to their other 13 locations. Financial terms have not been disclosed, but the usual split between a studio and a US theater chain is 55/45, with 55% of box office receipts going to the studio.
This Friday, The Siege of Jadotville will be the first movie to launch under the deal.