Will Netflix Start Buying Movie Theaters?
According to an interview with one of the company's two Chief Executive Officers, Reed Hastings, streaming service Netflix (NASDAQ: NFLX) probably won't be buying a theater chain in the near future, despite persistent rumors that it might. However, while speaking to The Hollywood Reporter, Hastings revealed, or at least confirmed, Netflix is in something of a content "arms race" with Walt Disney (NYSE: DIS).
Discussing the matter of theaters, Hastings asserted Netflix remains internet-focused, and he "can't see" it ever deciding to buy out a cinema chain. He also remarked movie fans are likely to return to theaters as the pandemic recedes, and he doesn't expect a significant influx of filmmakers to switch from creating content for movie theaters to making films or shows for streaming services like Netflix.
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Source Fool.com
