How Netflix brought back the Egyptian Theater with $70 million
The Big Picture
- The Egyptian Theater, an iconic Hollywood landmark, has been renovated and reopened by Netflix, showcasing the company’s efforts to break into the Hollywood community.
- With a long history and important cultural significance, the theater is a symbol of Hollywood’s past and future, and Netflix aims to make its mark on the industry through this campaign.
- The Netflix renovation project cost about $70 million, and the theater will host premieres of Netflix films while continuing to show films by the American Cinematheque on weekends.
Efforts to preserve history received another victory from a seemingly unlike place when a Netflix The iconic Egyptian Theater was bought at the beginning of the COVID-19 pandemic in 2020. After the last few years of intensive restoration and construction, the theater will finally open the t -last week with a preview of the new Netflix movie The Killerdirected by David Fincher.
However, the agreement is even more of a win for Netflix, as the company and its content continue to make more effort to break into the Hollywood community. The streaming service has also released a documentary, titled Temple of Film: 100 Years of Egyptian Theatre details of the theatre’s long history and recent restoration. By paying homage to Hollywood and its past, the company hopes to make its own mark on the ever-changing industry. Something as influential and symbolic to Hollywood as the Egyptian Theater should not be forgotten, and this week will be the beginning of its revival in many ways. Between being the host of Hollywood’s first major event back in the 1990s, the Egyptian Theater is part of the old industry, and now the new industry, Hollywood.
Temple of Film: 100 Years of Egyptian Theatre
Guillermo del Toro, Rian Johnson and other film luminaries take a look back at LA’s historic Egyptian Theater as it returns to its former movie palace glory.
- Release date
- November 9, 2023
- Guillermo del Toro, Rian Johnson
- Main Character
The Creator of the Egyptian Theater also built another famous Theater
Back in 1922, the center, located on Hollywood Boulevard, was opened after it was built by the showman. Sid Grauman. The theater is designed to represent the elaborate and over-the-top productions of Hollywood’s Golden Age, and its architecture eventually inspired several Egyptian revival movie theaters in later years. The ornate space is decorated with recognizable aspects of Ancient Egypt, such as tall columns, hieroglyphics, and Egyptian art.
It was the first film that was shown at the theater Alan Duncanand Robin Hood. It was the first Hollywood red carpet release of a motion picture in the history of the industry. It was a night of classic, Golden Age Hollywood, with the $1 million film (the most expensive film of the 1920s) being produced and distributed by big names in the industry like Douglas Fairbanks, Charles Chaplinand Mary Pickford.
As a result of the success of the Egyptian Theatre, Graumann continued to be inspired by the architecture of other countries and raised the Hollywood landmark, the Chinese Theatre. Also located on Hollywood Boulevard, its official opening was launched with a first release of Cecil B. DeMilleand King of Kings in 1927. In the end, the Chinese Theater became the more popular of the two theaters, which is evident by its tremendous popularity in the day – today. Between the brilliant exterior and the handprints and names of Hollywood celebrities, the former couldn’t compete. While the Chinese Theater flourished, and has since been converted into an IMAX theater, The Egyptian Theater finally closed in the early 1990s and fell into ruins. In addition, the theater was heavily damaged by a major earthquake in 1994, prompting further repairs.
The Egyptian Theater renovation project cost Netflix $70 million
The Egyptian Theater was only closed for a few years when the non-profit organization American Cinematheque bought the building. It was the old theater bought the group for just $1. With the resources they had, the American Cinematheque tried to restore the center to its original state.
Showing films from the 1980s, American Cinematheque combines filmmaking with community building and found its new home in 1998 at the renovated Egyptian Theatre. Although some decorative elements remained the same, its entire functionality has been modernized. The latest model turned its single screening room into two, with the second named after a famous director Steven Spielberg.
By the time Netflix was conducting its first audit in 2019, critical issues with the old structure, which were too expensive to deal with in the 1990s, were becoming more apparent. The streaming giant’s intentions included restoring the old theater to its true original condition, which meant eliminating the most modern elements that were irrelevant to the period in which it was built. Netflix also said it hoped to play its own movies and shows on the iconic big screen. This would mean major events hosted by Netflix, based on the screening of their new content.
After more than a year of discussion, Netflix and American Cinematheque reached a deal that began last week. While Netflix playing their original content and hosting events Monday through Thursday each week, the Egyptian Theater is still home to the American Cinematheque, as they screen films on Fridays, Saturdays and Sundays. While ushering the iconic landmark into a new era of Hollywood is undoubtedly historic, this isn’t the first time Netflix has taken an aging theater under its belt. his shield The entertainment company gave the Paris Theater a similar treatment, entering into a lease with the screen movie house before it had to close its doors for good.
It’s not hard to imagine the cost of Netflix’s leap towards becoming a permanent part of Hollywood when it comes to receiving awards and accolades for their content, especially with the restoration alone cost the company about $70 million. It’s also time for the recent writers and actors strike to end after 6 months of workers demanding fair pay in the age of streaming. Further, the deal wouldn’t feel right without a new Netflix-centric gift shop selling content merchandise exclusively for their original streaming content. Nevertheless, talent and filmmakers alike have access to one of the most important places in Hollywood history, especially in the midst of an ever-changing industry, just as Golden Age glamor he gets.
Temple of Film: 100 Years of Egyptian Theatre streaming on Netflix in the US
Watch on Netflix