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In a powerful symbolic gesture, Netflix, often seen as the harbinger of doom for traditional movie theaters, has taken under its wing the iconic Egyptian Theatre in Los Angeles, thereby promising to perpetuate the legacy of the cinematic arts. After years of decline and a hard-fought battle for survival, this historic cinema, with its majestic columns and courtyard decorated with frescoes reminiscent of ancient Egypt, is set to rise from the ashes.
The unveiling of the restored site, scheduled for this Thursday, marks the culmination of an ambitious renovation project that sought to restore the original splendor of this cinema monument, first opened in 1922. The world premiere of the film “Robin Hood” was celebrated at this very location, signaling the dawn of a new era for Hollywood.
Despite a grand beginning, the passage of time and natural disasters, particularly the 1994 earthquake, took their toll on its former luster. The American Cinematheque succeeded in an initial restoration but struggled to afford the continuous maintenance costs. Netflix’s intervention and its investment, estimated by experts to be around $70 million, therefore represents a decisive turning point.
Under Netflix’s stewardship, the theater will not only regain its vintage aesthetic with its pharaonic ornaments but will also be outfitted with state-of-the-art audiovisual technology. This collaboration provides the American Cinematheque with the means to continue screening classic films, while Netflix will use the space to showcase its own productions.
The streaming giant’s decision to directly involve itself in the preservation of this cinematic heritage is seen by some as an act of conciliation towards an industry often critical of the service’s distribution policy. For Ted Sarandos, co-CEO of Netflix, it represents an investment in the future of Hollywood, signaling the company’s intent to be part of the historical continuity of cinema.
This ambitious project will probably not be enough to quell the tensions with theater operators, who criticize Netflix for its reluctance to release its films in cinemas – or only for a very limited time – while competitors like Apple now grant a true theatrical release over several weeks for major productions like Killers of the Flower Moon. However, Sarandos dismisses this debate, emphasizing the role of streaming in the sustainability of the entertainment industry. The renovation of the Egyptian Theatre is thus presented not only as a tribute to history but also as an affirmation of Netflix’s new role in the global cinematic landscape.
With AFP
