Netflix Buys Hollywood's Famous Egyptian Theater

Netflix "Roma" Premiere

For a few years now there’s been a perceived battle between the streaming giant Netflix and traditional movie theaters. In fact, some feel movies that premiere on steamers or only play in extremely limited release shouldn’t qualify for the Oscars and Golden Globes.

But, Netflix is actually rescuing one of the most famous movie theaters in America from possible extinction: The historic Egyptian Theater in Hollywood.

Built in 1922, and the site where countless classic films like the original Robin Hood were premiered, the site was potentially in danger of being sold to developers before Netflix stepped in and acquired it. Netflix shared it has plans to restore it to its full magnificence.

"We want to preserve the theater’s storied legacy," Netflix’s Scott Stuber has since said. "And continue providing remarkable film experiences for audiences.’

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