Netflix leases iconic single-screen Paris Theatre for its originals

The iconic Paris Theatre, a single-screen cinema in New York City, will now be home to Netflix originals, the streaming company has announced. The cinema was opened in 1948 and officially shut down only months ago, something Netflix will change with its new deal to keep the place in operation. Though we don't know the length of Netflix's lease, a leak suggests it will cover the next decade.

Earlier this month, Deadline published a report claiming that Netflix has signed a lease for Paris Theatre in Manhattan that gives it use of the single-screen cinema for 10 years. In a tweet today, the company confirmed that it has moved into the recently closed theater, but it hasn't revealed how long it plans to stay.

Paris Theatre is the last single-screen cinema in New York. The shutdown earlier this year marked the end of an iconic — but, it seems, unsustainable — presence in New York City. A single-screen theater doesn't make sense for the average franchise in the industry, but it is an excellent way for Netflix to promote its movies on the big screen while retaining control over the entire process.

Many reports over the years claimed that Netflix was eyeing various cinema franchises for a potential acquisition, though the company's involvement in the cinema business has largely remained minor. We're still not at the point where we can expect to see Netflix movies with general release in big theaters, but it's not unheard of for select originals to get limited theatrical releases.

As for its presence at Paris Theatre, Netflix is currently using it to screen its original movie Marriage Story. Netflix says it will use the location for movie screenings, theatrical releases of its originals, and special events.