Netflix became closer to Hollywood by buying the historic building. The historic Egyptian Theater building was purchased by Netflix.
Netflix changes strategy with historical building
Netflix aims to use the power it gains on the digital side more extensively today. For this, the company wants to be close to Hollywood.
The historical Egyptian Theater building was opened in 1998 by the American Cinematheque organization. This organization operated the building without profit. However, Netflix surprisingly bought the historic Egyptian Theater building. Although the new owner of the building is Netflix, American Cinematheque will be able to continue using the building without profit.
Netflix has taken on the task of preserving this historical heritage. The historical building will be used to offer audiences different experiences. Netflix is also a little closer to Hollywood with this building, which is of great importance for Hollywood. Netflix is expected to collaborate differently for the historic building in the coming days.