Netflix chief content officer Ted Sarandos says the streaming giant will not be heading to the Cannes Film Festival in May. This is in response to the festival banning films from playing in competition if they have not had theatrical distribution in France. “Netflix could screen some of its upcoming movies out of competition,” reports Variety, “but Sarandos says that doesn’t make sense for the streaming service.” “We want our films to be on fair ground with every other filmmaker,” he noted. “There’s a risk in us going in this way and having our films and filmmakers treated disrespectfully at the festival.” Continue reading Netflix Is Not Planning to Compete at Cannes Fest Next Month

On the heels of its first original theatrical film acquisition, “Beasts of No Nation,” Netflix is financing “Snowpiercer” director Bong Joon-ho’s next film, “Okja,” to the tune of $50 million. The film, which stars Jake Gyllenhaal, Tilda Swinton and Paul Dano and will be produced by Brad Pitt/Dede Gardner’s Plan B, marks the next step of the streaming media company’s transition to film production studio. Netflix’s 2016 releases include a “Crouching Tiger, Hidden Dragon” sequel and the Weinstein’s “Marco Polo.” Continue reading Netflix Doubles Down on Movie Production with $50M for ‘Okja’