Netflix Pulls Out of Cannes Film Festival 2018
Last year Cannes festival made it clear that the streaming giant’s movies wouldn’t be welcome in main competition unless they had local distribution and Netflix respected France’s strict windowing policies.
The video-streaming giant, Netflix has decided to not take part in Cannes Film Festival this year. According to a report from Variety, Cannes wants its films to be shown in theaters first, and Netflix refused. Reportedly, Netflix, though it was banned from competition, was told it could still screen its films at Cannes if it liked. The company is now no longer attending in any official capacity.
Last year Cannes festival made it clear that the streaming giant’s movies wouldn’t be welcome in main competition unless they had local distribution and Netflix respected France’s strict windowing policies. Reportedly, Netflix CEO Ted Sarandos said the streaming giant was offered Out Of Competition slots for movies but he declined.
According to a New York Post report, Netflix was recently in the news because it was slapped with a shareholder lawsuit claiming that it “rigged” top executives’ bonuses to pay them millions of dollars — no matter how well the company did.
(The above story first appeared on LatestLY on Apr 12, 2018 10:49 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).