- After almost a year, Netflix finally acquires Hollywood's Egyptian Theatre.
After almost a year, Netflix has finally acquired Hollywood’s Egyptian Theatre. Joining forces with American Cinematheque, the plan is to restore the iconic theatre where the first Hollywood premiere was held.
The partnership benefits the American Cinematheque, which called the theatre their home and will expand their reach and diversity of its widely praised movie and event programming. The Egyptian Theatre will remain their home and will continue to autonomously program Friday, Saturday, and Sunday.
Netflix will invest in renovations and will use the revitalized space for special events, screenings, and premieres during the week.
“The Egyptian Theatre is an incredible part of Hollywood history and has been treasured by the Los Angeles film community for nearly a century,” said Scott Stuber, head of Netflix Films. “We’re honored to partner with the American Cinematheque to preserve the theater’s storied legacy and continue providing remarkable film experiences for audiences. We look forward to expanding programming at the theater in ways that will benefit both cinema lovers and the community.”
“The American Cinematheque was honored to bring the Egyptian back to life in 1998, and together with Netflix we are thrilled to continue this stewardship by restoring it once again for a new generation of film fans to experience movies on the big screen,” said Chairman of the American Cinematheque, Rick Nicita. “The Egyptian Theatre remains our Hollywood home and we are grateful to both the City of Los Angeles and the Attorney General of the State of California as we accept this incredible opportunity that will greatly benefit the American Cinematheque.”
“Love for film is inseparable from L.A.’s history and identity,” said Mayor Eric Garcetti. “We are working toward the day when audiences can return to theaters –– and this extraordinary partnership will preserve an important piece of our cultural heritage that can be shared for years to come.”
The Egyptian Theatre was built in 1922 during the silent film era and became a fixture in Hollywood’s Golden Age. The first Hollywood premiere ever, which was for Robin Hood starring Douglas Fairbanks took place at the theatre.
The City of Los Angeles sold the building in 1996 to the American Cinematheque as part of the City’s Hollywood Revitalization project. American Cinematheque raised the money to renovate and restore the theatre to reopen. In 2016, the Hollywood Foreign Press Association, Turner Classic Movies, and The Film Foundation helped update the projection booth retrofitted with 35mm nitrate film making it one of only four theaters in the United States capable of showing this rare, ultra fragile and flammable film stock.
The Cinematheque will continue to program and operate a second historic theater, the Aero in Santa Monica.