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> The Venice Film Festival is underway. And the debut of films from Netflix may provide a coup for the event's organizers over their biggest rival, The Cannes Film Fest. That's because Netflix and Cannes had a falling out that lead to Netflix abandoning the French event, Reuters' Robin Pomeroy in Venice.
>> This is a coup for Venice. Because these are three of the strongest films here, both in terms of winning the Golden Lion here potentially but also for Oscars. It's because in France, there's a rule that if you release a movie at a cinema, you can't then stream it for a long period of time, for a period of year.
Netflix, its whole model is it releases a film directly onto its subscription service. So if even it does show its movies at the cinema, it will put it on its streaming service at the same time. The people in Cannes said, that's not good enough.>> Netflix wouldn't budge, so they pulled out, and now they're here.
And there's some top Hollywood directors with them. They include the Coen Brothers and their comedy western, The Ballad of Buster Scruggs, and the Oscar winner Alfonso Cuaron, with a black and white arthouse drama called Roma. It's not to say they'll be welcomed by everyone in Venice, but it's a victory.
>> It shows us that Netflix has the money and the desire to make big budgets, if not blockbusters, certainly absolute A game arthouse movies. And they're funding movies in a way that maybe other studios will be more cautious about doing.>> The boss in Venice, Alberto Barbera, is on record as saying, film fests can't ignore the realities of modern moviemaking.