Where did the money go?

The streaming giant has some explaining to do.

They spent nearly $100M to renovate a theatre.

It looks 95% the same as it did before.

Where did the money go?

Not into the balcony, which they scrapped.

So they have reduced seating.

But how are the movies?

The first big movie in 70mm had mistakes during every single reel change, such as black frames, loud beeps, misaligned picture, blurriness, etc.

This was still occurring 3 hours into a lengthy movie.

Someone embezzled or misspent the money, and now they run the theatre on the cheap.

They probably don’t want to pay enough money for a proper union projectionist.

Netflix

Egyptian Theater

Netflix invests $70 million in restoring and reopening the iconic Egyptian Theatre, marking a significant move to establish a Hollywood presence.

The theater, rich in history and cultural significance, becomes a symbol of both Hollywood’s past and future as Netflix aims to leave a lasting impact on the industry.

The restoration project underscores Netflix’s commitment to historical preservation and includes hosting premieres of their films alongside screenings by the American Cinematheque on weekends. Purchased during the COVID-19 pandemic in 2020, the Egyptian Theatre reopens with the premiere of Netflix’s “The Killer,” directed by David Fincher.