Last week, Netflix announced that it will be releasing Crouching Tiger, Hidden Dragon 2 simultaneously as in theaters, and that it had signed a deal with Adam Sandler to make 4 feature films exclusively for distribution on its platform. Re/code's Alex Kruglov reflects on what that means for the future of film distribution.
He writes, "Has Netflix really changed the TV business? And will it change the film business? I’d argue that Netflix and other streaming video on demand (SVOD) services have reinforced TV economics and added a significant amount of fuel to foster more content creation. When it comes to film, we are likely to see a reinforcement of the status quo, not meaningful business model innovation."
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