Netflix is reportedly looking to buy cinemas

The move could help their original content land bigger awards

Netflix is looking to start buying cinemas, according to reports.

The streaming service is said to be planning the move to increase their chances of securing major awards, like the Oscars, for its original content. The first Netflix original movie Beasts Of No Nation arrived on the platform in 2015.

According to the Los Angeles Times, the company considered purchasing LA’s Landmark Theatres, but backed out because the price was too high. Netflix and Landmark representatives refused to comment.

Eric Handler, an analyst for MKM Partners, said: “It seems Netflix would like to get some of its movies for Oscar contention or other types of industry awards. They’re trying to get credibility. Netflix took off when a couple of their own titles got nominated for Emmys. That lent credibility to what they’re doing. If they can do that for various awards, that might raise the platform a little bit.”

While the streaming service’s original TV shows, including Stanger Things and Orange Is The New Black, have been widely successful, their movies have yet to replicate those programmes’ achievements. Industry insiders have suggested they may receive more attention from awards voters if films were given cinematic releases, instead of just living on the platform.

The service did make some headway at this year’s Oscars, however. Mudbound was nominated for four awards, while Icarus took home the prize for Best Documentary.

Recently, Netflix announced it was pulling its film from Cannes Film Festival after being banned from competing for the prestigious Palme d’Or. Movies in the running for the award must have a theatrical release in France to be considered eligible.