LOS ANGELES • Netflix and owners of major American theatre chains could have made a lot of money together, if only they had seen eye to eye on the release of The Irishman.
Netflix financed and produced the US$159 million (S$216 million) Martin Scorsese gangster epic, starring Robert de Niro and Al Pacino.
After negotiations between major chains and Netflix ended in a stalemate last month, the movie, which opened last Friday, will have a 26-day run in a limited number of theatres before it starts streaming on Nov 27.
A sticking point in the talks was how long it would play in theatres before being made available to Netflix's 158 million subscribers.
The exhibitors typically insist on a 72-day period of exclusivity.
During the months-long talks with Netflix, representatives of two chains agreed to lower that number to around 60, according to sources.
Netflix signalled that it would not go above 45. And that was where it ended.
The Irishman, which has received good reviews, is opening on eight screens in New York and Los Angeles. Starting on Friday, the run will expand to include independent and small-chain movie houses in the United States' top 10 markets.
Netflix has little time for the old theatrical business model. It is devoted to keeping its subscribers happy, meaning that most of its movies make their debut on the streaming service.
Last year, Netflix tiptoed into the theatres, offering Alfonso Cuaron's Roma – which went on to win three Oscars – a 21-day exclusive release at independent and small-chain theatres before it started streaming.
For Scorsese, Netflix tried to work out something more robust than what it had done for Roma, but pundits are not impressed with its preference not to budge.
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