As Hollywood prepares to unleash its batch of summer blockbusters, Netflix has a trick up its sleeve it hopes will keep its 125 million users home. The streaming giant plans to release at least 86 original movies this year, more than the top four Hollywood studios combined. Reuters' Lisa Richwine is on the story.
>> For Netflix, it's all about adding new subscribers. They're hoping to pick up people all around the world in various countries. Some of these movies will be in other language besides English. They also wanna keep the customers that they have happy.>> While Netflix is known for producing bingeworthy series like House of Cards and Stranger Things, this is its first aggressive push into movies.
And it's being partly fueled by a looming threat as Disney is poised to launch its own streaming service in 2019.>> They're really flooding their service with their own original movies to make up for the fact that they're going to lose some movies from Disney next year. And they know it's gonna be harder to get movies from other Hollywood studios in the future.
>> Netflix's biggest bet? A Martin Scorsese-directed Directed mob drama starring Robert De Niro and Al Pacino which cost at least $125 million to make, a price tag difficult for traditional studios to swallow. But not all A-list directors are fans of delivering big blockbusters to the small screen.>> My entire life has been spent trying to give audiences something in a large, large form.
And I love the whole feeling of social interaction outside. Where you leave your house, you park your car, you go somewhere. Those are the kind of movies and audiences I like to talk to.>> Spielberg not the only one shunning Netflix. The Cannes film festival recently banned Netflix movies, saying it wouldn't consider films that don't have a theatrical release.
And while it does send movies to a small number of theaters, it doesn't in France, due to a local law requiring a three-year waiting period between the time a movie is released in theaters to when it's available to stream.