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Netflix Stock – Netflix, Inc. (NASDAQ:NFLX), Cinemark Holdings Inc (NYSE:CNK) – Netflix Testing Theatrical Model With ‘Army Of The Dead’

In a tale of the times for the post-pandemic world, movie theaters are welcoming back customers. The shift to streaming platforms by many of the largest entertainment companies has left theaters without their normal slate of blockbusters. Enter Netflix Inc (NASDAQ: NFLX).

What Happened: “Army of the Dead” from Zack Snyder will be released nationally in Cinemark Holdings Inc (NYSE: CNK) theaters beginning May 14, IGN reports.

The release will happen one week before the 200 million Netflix customers can watch the movie on the streaming platform.

This marks the largest early release for a Netflix movie, according to IGN. The company has done some limited-time releases in limited large markets like New York City, Los Angeles, Austin and San Francisco.

“Following the success of our limited-run in-theatre tests with Cinemark for films like Ma Rainey’s Black Bottom, The Midnight Sky and The Christmas Chronicles 2, we are looking forward to the wider theatrical release of Army of the Dead,” Netflix head of distribution Spencer Klein said in a press release.

Following a zombie outbreak in Las Vegas, a group of mercenaries take the ultimate gamble, venturing into the quarantine zone to pull off the greatest heist ever attempted,” the tagline on IMDB reads for the movie starring Dave Bautista.

Related Link: Netflix Exploring More Social Features With N Plus: Report

Why It’s Important: The release from Netflix could reach potential new subscribers and also help the company grow the audience of its original content.

Movie theaters had previously fought with Netflix over the exclusive window. Theaters wanted Netflix movies for 70 to 90 days before they hit the streaming platform, according to IGN.

With theaters now desperate for content, Netflix and Cinemark appear to be testing a model that could be the future for some movies.

Companies like AT&T (NYSE: T) segment Warner Bros. have shifted the majority of their content to their streaming platform.Walt Disney Co (NYSE: DIS) has also placed a heavy emphasis on putting new movies on its Disney+ platform.

That opens the door for Netflix and others to offer up their blockbuster movies to movie theater chains hopeful to get fans back in the seats.

price Action: Shares of Netflix are up 1% to $492.10 on Friday. Cinemark shares are up 5% to $22.18.

© 2021 Fintech Fintech Zoom does not provide investment advice. All rights reserved.

Netflix Stock – Netflix, Inc. (NASDAQ:NFLX), Cinemark Holdings Inc (NYSE:CNK) – Netflix Testing Theatrical Model With ‘Army Of The Dead’

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