Netflix reopens the “Egyptian” movie palace in Hollywood

The Egyptian Theater, which hosted its first-ever red carpet premiere in Hollywood in its hieroglyph-adorned courtyard more than a century ago, reopens this week under the new ownership of Netflix.

Los Angeles’ venerable movie palace, steeped in silver screen lore, may seem like an unexpected investment for a streaming giant that has made a fortune convincing viewers to watch movies on their TVs, laptops and even phones.

But for Netflix co-CEO Ted Sarandos, the opportunity to rescue a crumbling Tinseltown enterprise — and showcase his company’s meteoric rise from technology revolutionary to a major player at the heart of the entertainment industry — was a no-brainer.

“Hollywood is all about symbols,” he told AFP.

“The Hollywood sign and this theater are perhaps the most recognizable symbols of Hollywood… and this, unfortunately, was falling.”

The theater first opened its doors in October 1922, with the world premiere of Douglas Fairbanks’ “Robin Hood.” Previously, Los Angeles’ thriving entertainment industry was focused on the downtown area, a few miles away.

Organizers installed dazzling lights to attract the audience, and rolled out a red carpet across the theater courtyard for VIP guests including Charlie Chaplin. This innovation, which aims to emulate European royal etiquette, will set a model for entertainment industry premieres for the next century.

Over the following decades, the Egyptian Theater fell on hard times, sustaining severe damage in the 1994 Los Angeles earthquake.

The building was taken over by the non-profit American Cinematheque, which repaired the building, but had difficulties funding its maintenance — until Netflix came along.

The deep-pocketed streamer agreed to finance work to renovate the theater again. The cost was not revealed, but estimates indicate that it is about $70 million.

“We, as a nonprofit, were struggling,” said Rick Niceta, president of the American Film Board.

“They came in and formed a great partnership with us. They understood what we were trying to do.”

Under the agreement, Netflix will host its own shows during the week, starting with David Fincher’s “The Killer” on Thursday, while American cinema will show classic films such as “Lawrence of Arabia” on weekends.

“We rent movie theaters all the time, in New York and Los Angeles, to do our premieres and events,” Sarandos said.

“So the idea that we could put that effort into something that would lead to the preservation of something great? It seemed like a win-win.”

“The next 100 years”

With its sand-colored walls and columns, colorful hieroglyphs, and a giant metal scarab beetle hanging above the stage, the theater was originally designed to capitalize on the 1920s obsession with all things ancient Egyptian.

The ushers at the “Robin Hood” premiere were dressed in Egyptian costumes. In a marketing stroke, Tutankhamun’s tomb was discovered just two weeks later.

While the theater is undergoing its most recent restoration, Netflix redesigned the building and courtyard to more closely reflect its 1922 specifications, albeit with state-of-the-art audio and visual installations.

The move is the latest statement of intent from a company that has invested heavily in recent years to attract major silver screen directors and stars to its films, cementing its position as a company at the heart of the Hollywood ecosystem, while respecting its rights. Traditions.

The streamer also took over New York’s historic Paris Theater a few years ago.

“We have been producing original films for less than seven years… and we have not contributed much to 100 years (of Hollywood history),” Sarandos said.

“But this is a down payment on the next 100 years.”

Of course, the prospect of Netflix dominating the movie industry for the next century is likely to upset some movie theater owners.

While rivals such as Apple have recently put films such as Killers of the Flower Moon on big screens for extended periods before streaming, Netflix has angered cinema bosses by refusing to do the same.

But Sarandos rejects “all this talk about whether live streaming is good or bad for the entertainment industry,” pointing to Al-Masry’s reopening.

“In many ways, streaming saved the entertainment industry. This is a symbol of that, too.”