Netflix seems to have its eye on the Oscars

The streaming giant has announced a deal to start showing its exclusive films in cinemas on the same day as their online release

Netflix has slowly been unravelling its cinematic empire, and there's no better way to establish legitimacy than with a shiny Academy Award.

Which seems to be exactly where the streaming service has set its sights; with Esquire reporting its announced a deal to start showing its exclusive films in cinemas on the same day as their release online. The deal so far is to release 10 of its original films through iPic cinemas, a premium chain which operates in both New York and Los Angeles; with Christopher Guest's Mascots and the Jamie Dornan-starring Siege of Jadotville first on the list.

This won't be the first time Netflix has theatrically-released its original films, with Beasts of No Nation last year turning in a disappointing $90,777 worldwide gross; however, it seems clear the streaming service has no interest in money here.

A cinematic release with a specific chain cuts down on the financial risk, while instantly allowing the films to qualify for the Academy Award; considering a film needs to be shown for at least a week in New York and Los Angeles in order to be eligible. And it goes without saying any Oscar recognition will instantly turn up profits for Netflix on their own platform.

Netflix Chief Content Officer Ted Sarandos stated that consumer choice "is a pillar of our philosophy and the unparalleled level of comfort and hospitality offered at iPic made this a natural partnership."

NATO (The National Association of Theater Owners) chief John Fithian added, "The theatrical window is a longstanding industry practice that has benefited studios, theaters and moviegoers. We all should tread lightly and be mindful that over the years, the film industry's success is a direct result of a highly successful collaboration between film makers, distributors and exhibitors."