Director Gerwig to Direct at Least Two Narnia Films
First Movie to Screen in 1,000 Theaters for at Least Two Weeks
Change Inevitable if Both Theatrical and Streaming Success Achieved
Netflix first released the 2022 film Knives Out: Glass Onion in theaters. It was the company's first movie to be screened across all three major U.S. theater chains: AMC, Cinemark, and Regal. The revenue recorded over one week in about 600 theaters was approximately $13 million. Netflix could have expected higher earnings but prioritized its own streaming service and did not extend the screening period.
Director Greta Gerwig is smiling as she reviews the performances with the actors who appeared in the movie 'Barbie'. [Photo by Warner Brothers Korea]
The previously stubborn policy is expected to change with the film The Chronicles of Narnia. Last month, Netflix announced it would produce at least two films with director Greta Gerwig and release them in IMAX theaters. The first film will be shown in over 1,000 theaters for at least two weeks starting from late November 2026. Netflix plans to conduct aggressive marketing beforehand and, if the response during the release period is strong, extend the screening by up to two weeks. The film will be released on Netflix's platform one month after the theatrical release, on Christmas.
This is an unprecedented and bold condition. Until now, unlike competitors such as Apple TV and Amazon, Netflix did not screen upcoming films in theaters. It only allowed limited theatrical releases for Academy Award nominees like Flower Killing Moon, Emilia Perez, and Maria. The Academy of Motion Picture Arts and Sciences (AMPAS), which hosts the Oscars, requires nominated films to be screened in theaters for at least two weeks.
Ted Sarandos, Netflix co-CEO, has consistently argued that theatrical releases for Netflix films are inefficient. Even when Knives Out: Glass Onion performed well in theaters, the screening period was not extended. Famous directors such as Martin Scorsese, David Fincher, and the Russo brothers, despite making films with huge budgets, had their movies minimally screened in theaters. Netflix saw it as more beneficial to have films quickly added to its streaming catalog.
The firm wall crumbled with the recruitment of director Gerwig. According to foreign media including Variety, Netflix and IMAX reached an agreement at the negotiation table for a theatrical release of up to four weeks. This was possible because Gerwig had risen to the status of a star director. Known for Lady Bird (2018) and Little Women (2019), Gerwig's status was elevated in 2023. Her directed film Barbie earned over $1.5 billion, coloring the world pink.
She is reportedly receiving the largest production budget in U.S. film history for The Chronicles of Narnia. In fact, Netflix is preparing The Chronicles of Narnia, which has sold over 115 million copies and been translated into fifty-seven languages, as a major franchise going forward.
The bold theatrical release decision was also influenced by Margot Robbie, the lead actress in Barbie. Previously, Netflix lost the film rights competition for the novel Wuthering Heights to Warner Bros. Robbie, who also served as producer, rejected a $150 million guarantee and chose a theatrical release. She judged that the experiential value of the film would be diminished by streaming-only release on OTT platforms and that it would be difficult to create a cultural phenomenon like Barbie.
If The Chronicles of Narnia succeeds both in theaters and on streaming, Netflix's existing policy could be significantly shaken. Other directors and actors might demand that their films be screened in theaters first, citing experiential value and other reasons. Netflix will need to find other justifications to avoid theatrical releases. Of course, inexpensive or non-commercial films will likely continue to be excluded from theaters. However, for projects like The Chronicles of Narnia and The Gray Man, which have budgets exceeding $200 million, theatrical releases are likely to become another condition that guarantees success.
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