A sequel to Ang Lee's "Crouching Tiger, Hidden Dragon" is set to be released next year on Netflix and selected IMAX theaters worldwide after Netflix and the Weinstein Co. (TWC) have signed the deal.
"The movie going experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement," TWC co-chairman Harvey Weinstein said in a statement. "We are tremendously excited to be continuing our great relationship with Netflix and bringing to fans all over the world the latest chapter in this amazing and intriguing story."
According to Netflix, "Crouching Tiger 2" will be the first of the several major films to have a day-and-date release on Netflix and IMAX theaters.
Netflix's Chick Content Officer, Ted Sarandos, has wanted to release movies simultaneously with the theaters but some major theater chains in the US may not allow this to happen.
"Fans will have unprecedented choice in how they enjoy an amazing and memorable film that combines intense action and incredible beauty," Sarandos said in announcing the deal. "We are honored to be working with Harvey Weinstein and a world-class team of creators to bring this epic story to people all over the world and to partner with Imax, a brand that represents the highest quality of immersive entertainment, in the distribution of this film."
The "Crouching Tiger, Hidden Dragon 2" will be directed by Yuen Wo-Ping and will be produced by TWC.
Actress Michelle Yeoh will reprise her role as Yu Shu-Lien in the movie, as well as Donnie Yen as Silent Wolf.
"Imax has a terrific opportunity, via this partnership with Netflix, to release Crouching Tiger - a high-quality, action-packed film that is right in our wheelhouse - at the end of the summer blockbuster season," said Greg Foster, Senior VP of IMAX Corp. and CEO of IMAX Entertainment, in a statement. He also said that he hope that the movie will be shown in China, where Netflix isn't available.
"In territories where we simultaneously release with Netflix, we are excited to offer consumers the option of deciding how, when and where they want to view the film, and exhibitors the opportunity to participate in this alternative form of content in a new and innovative way," Foster added.
"Crouching Tiger, Hidden Dragon," which earned $213 million worldwide, was released in theaters in 2000 and was nominated for Best Picture and won the Best Foreign Language Oscar at the Academy Awards the following year.
