Amazon In Running To Acquire Landmark Movie Chain

According to Bloomberg, Amazon is in the running to acquire Landmark Theaters, a chain focused on independent and foreign films with more than 50 theaters in 27 markets, including high-profile locations in New York, Philadelphia, Chicago, Los Angeles, and San Francisco. From the report: Landmark's theaters are known for art-house fare, and some high-end locations include coffee bars or lounges, setting them apart from the typical movie experience. "This is probably a move to get broader distribution of film content," said Leo Kulp, an analyst with RBC Capital Markets LLC. "Netflix had been discussed as a potential buyer of Landmark for a similar reason." The possible move was viewed positively by investors, who saw it as a sign that Amazon wasn't looking to disrupt moviegoing and was supportive of the theatrical experience, Kulp said.

Re:News for nerds.

[omnichad]

They probably just want a theater to show original movies in so that they are eligible for awards (that then attract new subscribers). Any increase in profitability is purely coincidental.

Re:News for nerds.

[alvinrod]

That was my thought. However, the academy seems to have snubbed the online streaming services in the past. I remember that Beasts of No Nations didn't receive any nominations despite being well regarded and receiving nominations (and even wins) in many other awards.

Cannes even recently changed their rules to prevent anything that doesn't get a theatrical run in France from entering the competition. Normally this wouldn't be a problem as Netflix could just do a single theater release, except there's another strange French law that prohibits films from appearing on streaming services until 36 months after their theatrical release [variety.com].

I suspect that some of it might also be as a potential way to recoup costs from big budget productions like Game of Thrones where you could do a theatrical release every few years that might pull in a few tens of millions of dollars that you might not otherwise get. Occasionally you make a 90 minute episode that gets a theatrical release. I bet that even people who own the subscription service would pay to see it on a big screen, especially if it's a kind of fantasy epic like Game of Thrones.

If there's anything left to save...

[RAVasquez]

Maybe, just maybe, Amazon decided to do something right by the people of Seattle. Before Mark Cuban took over, Landmark was the best movie chain in town, with a whole suite of indie-minded theaters all over town; now, they're nearly all shut down, awaiting for the inevitable condos to sprout up over their ruins. I've been longing for some deep-pocketed local to pick up the Harvard Exit or Guild 45th and get them running again, as a hobby if not a major business opportunity.

Re:If there's anything left to save...

[Actually, I do RTFA]

It's not civics, it's awards. To qualify for the Oscars, for example, movies need a theatrical release. Owning theaters is a great way to ensure a theatrical release.

Re:

[alvinrod]

Also, it's Amazon we're talking about. It seems as though every other month there's some new story about how they mistreat their workers or there's some conflict between them and the city of Seattle. They're one of the last companies you would suspect of doing something as the GP discussed.

Prime Seats!

[EETech1]

I wonder if they'll make you get a membership for the prime seats?

Well, shit

[DogDude]

Our family just discovered an awesome Landmark theater that we were planning to become frequent customers of. We don't do Amazon in our household, so if Amazon buys them, we won't be going any more. We're hoping some more ethical company buys Landmark.