Hollywood Isn't Going to Stop Hating on Netflix Anytime Soon

In what has become an annual event, a group of theater owners have banded together against streaming pioneer Netflix, Inc. (NASDAQ: NFLX) and are refusing to show one of the company's original productions. In this latest turn, the three largest theater chains in South Korea, which control 90% of the movie screens there, are boycotting Netflix original Okja unless the company agrees to delay streaming by three weeks.

The modern fable was directed by internationally acclaimed South Korean director Bong Joon-ho, who has helmed The Host and Snowpiercer. Okja received a four-minute standing ovation after being shown at the Cannes Film Festival, though its screening was not without controversy. The National Federation of French Cinemas complained that features that wouldn't make their debut in French theaters should be barred from the competition. As a result of the kerfuffle, Cannes introduced a new rule beginning next year that requires that films must be distributed in French theaters to be considered for the festival.

Okja stirs controversy in France and South Korea. Image source: Netflix.

Source: Fool.com