More than a century ago, Hollywood held its first red carpet premiere at the Egyptian Theatre. Under the management of Netflix, the theater opens its doors once again.
The red carpet has become a symbol in the world of cinema and it is a celebration of new releases.
This tradition was born more than a century ago at the doors of the Egyptian Theater, in Hollywood.
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Its ocher walls and columns, along with colorful hieroglyphs and a giant metallic beetle hanging above the stage, have turned the cinema into an icon.
El gigante de streaming Netflix, ha decided to reopen this space that has been part of the history of the film industry.
A great investment for Netflix
The reopening of the theater seems an unlikely investment for the platform streaming because Netflix gained its popularity by bringing the world of cinema to small screens.
However, for its managers, this investment presents a great opportunity for the future of the platform.
Reopening the theater represents an opportunity to save this ruined institutionand in the process show a rapid transformation within the entertainment industry.
“Hollywood revolves around symbols“explains Netflix co-CEO Ted Sarandos.
“The Hollywood sign and this cinema are probably the two most iconic symbols of Hollywood (…) This one, unfortunately, was falling apart,” he adds.
“El streaming has saved the entertainment industry of many ways. And this is also a symbol of that.”
A historical symbolism
He Egyptian Theater opened its doors for first time in October 1922with the premiere of ‘Robin Hood’, by Douglas Fairbanks.
Before that event, the industry was concentrated in downtown Los Angeles.
In celebration, organizers installed lighting to dazzle the crowd and rolled out the famous red carpet in the cinema’s inner courtyard to the most important guestscomo Charlie Chaplin.
This was looking for emulate the royal etiquette of Europeand became a model for all the premieres in the industry.
During the following decades, the Egyptian Theater faced challenges and suffered significant damage after the 1994 Los Angeles earthquake.
The cinema passed into the administration of the American Cinemathequea nonprofit institution, which repaired the building but had difficulties in financing the maintenance.
This is when Netflix enters the scene to rescue this symbol of cinema.
The mutual agreement to rescue history
The non-profit institution agreed to finance the cinema’s renovation work. The cost was not disclosed, but it is estimated that it was around USD 70 million.
The agreement states that Netflix will use the cinema during the week for its screenings, starting this coming Thursday with the film ‘The Killer’, by David Fincher.
“When you walk in [to the Egyptian]it’s the past and the present and the future all in one.” — American Cinematheque chairman Rick Nicita
It’s so good to be back! ⭐️ pic.twitter.com/cMreLnrpPY
— American Cinematheque (@am_cinematheque) November 8, 2023
“We rent movie theaters all the time for premieres and for our events,” Sarandos said. “So the idea of putting in that effort, it felt like a victory for all“he added.
For its part, the Cinemateca will be able to use the theater to project classics like ‘Lawrence of Arabia’ on the weekends.
A view to the future
The streaming platform too assumed the historic Paris Theater in New York a few years ago.
“We have done original films for seven years (…) We have not contributed much to the 100 years [de la historia de Hollywood]”said Sarandos.
“But this is like our starting point for the next 100 years.”
2023-11-08 16:13:39
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