Netflix may soon be eyeing up a move from the small screen in your front room to the big screen of cinema, according to sources speaking to the Los Angeles Times.
The sources reveal that the video streaming giant, which has a net worth of $130 billion, recently considered a move to buy Los Angeles-based Landmark Theatres, which is co-owned by billionaire Mark Cuban, one of the Sharks on US show Shark Tank.
However it's believed Netflix never went through with the deal because executives said the asking price was far too high.
While no further deals for Netflix to buy any other cinema chains have been laid out on the table, the idea of Netflix eventually owning a cinema chain wouldn't necessarily come as a huge surprise. The company is investing heavily in original content in return for new subscribers, and has recently said it will spend $8 billion on new TV and film content this year alone. Netflix currently has some 125 million subscribers worldwide.
However the original films can't be considered for awards, such as Oscars or Golden Globes because its films are not screened in cinemas. The video streaming service has even said it won't be attending the Cannes Film Festival this year simply because its films would never be able to win any awards there.
If Netflix were to eventually own a cinema chain - which wouldn't have to be on a huge scale, but a small player with a few theatres on both US coasts - it would potentially be able to do something some moviegoers have longed for: the simultaneous release of films in cinemas and through a streaming service.
Being able to be considered for awards and even nominated for them, could attract even more subscribers. Netflix's subscriber numbers surged when its original TV shows such as House of Cards began being nominated for Emmy awards.
It would also be logical to assume that Netflix wants to be able to better compete with Amazon, who's movies can be considered for awards because they're screened in cinemas. 2016's Manchester by the Sea for example was lauded by critics as being one of the best films of the year and won two Oscars.
We'll certainly be keeping our ears to the ground to listen out for any developments.
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