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Netflix to release 'Crouching Tiger' sequel in 2015 | |
(about 5 hours later) | |
The video streaming site Netflix will release its first feature-length film next year after striking a deal with the Weinstein Company. | |
The sequel to Ang Lee's Oscar-winning martial arts drama Crouching Tiger, Hidden Dragon will be shown on Netflix and in Imax cinemas in August. | |
Netflix has over 50 million subscribers, in more than 40 countries. | Netflix has over 50 million subscribers, in more than 40 countries. |
The firm already produces its own TV programmes, notably the politically-themed House of Cards. | |
"The movie-going experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement," said Harvey Weinstein, co-chairman of the Weinstein Company. | |
"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." | |
The sequel, Crouching Tiger, Hidden Dragon: The Green Legend, will see former Bond girl Michelle Yeoh reprise her role as warrior Yu Shu-Lien, while Chinese action star Donnie Yen joins the cast as a character called Silent Wolf. | |
However, director Ang Lee will not be returning to film the sequel. Those duties have been taken over by Chinese director Yuen Wo-Ping, who has already started filming in New Zealand. | |
This is not the first time that Netflix has worked with the Weinstein Company. The two are set to release a drama series about Italian explorer Marco Polo in December. | |
Last week, Netflix bought the rights to historical drama Peaky Blinders, first aired on the BBC, in a separate deal with the Weinstein Company and production group Endemol. | |
Record nominations | |
The entertainment company, which started in 1997 as a postal DVD rental service, has seen its profits surge in recent months. | The entertainment company, which started in 1997 as a postal DVD rental service, has seen its profits surge in recent months. |
In July, it reported profits of $71m (£43.8m) for the second quarter of 2014. | In July, it reported profits of $71m (£43.8m) for the second quarter of 2014. |
Last year, Netflix's original programming was nominated for 14 Emmy TV awards, winning three, and this year its programmes received a record 31 nominations. | |
The alliance with the Weinstein Company may give Netflix a shot at winning an Academy Award, which requires feature films to be played in cinemas for at least a week to qualify for a nomination. | |
However, Netflix has suffered some setbacks in the US, and is engaged in a battle with internet service providers such as Verizon over who should pay for the increasing strain that streaming video puts on download speeds. |
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