Watch out Hollywood — Netflix is getting into the movie business.
The streaming service announced Tuesday that the sequel to the 2000 martial arts film “Crouching Tiger, Hidden Dragon” will premiere exclusively on Netflix next year.
Described by the The New York Times as the “first deal of its kind,” the follow-up to the Oscar-winning blockbuster, starring Michelle Yeoh and directed by Ang Lee will debut simultaneously around the world on the streaming service as well as some IMAX theaters.
The Weinstein Company film, titled “Crouching Tiger, Hidden Dragon: The Green Legend,” will debut Aug. 28 on Netflix as part of the site’s movie offerings. (Subscribers will not have to pay an additional fee to watch the film.)
As for the movie itself, “Green Legend” is set two decades after the events in the original film and once again stars Yeoh. But there has been a major change behind the scenes: Lee did not return to direct the sequel and was replaced by Chinese director Woo-ping Yuen.
Ted Sarandos, Netflix’s chief content officer, said the move reflected what movie fans’ wanted, in terms of changing the traditional model for film releases.
“What I am hoping is that it will be a proof point that the sky doesn’t fall,” he told the Times. “These are two different experiences, like going to a football game and watching a football game on TV.”
