Most movie theater chains have refused to show movies made by Netflix, seeing it as a competitor. But not iPic Entertainment, which struck a deal with Netflix to show its films “Beasts of No Nation” and “Mudbound” in its theaters. For iPic, the films were just a way to get customers in the door so they can partake of its main business—fine dining.
iPic’s 16 theaters include upscale kitchens that deliver meals to people while they’re watching a movie. About 53% of its revenue comes from food and drink while only 45% comes from ticket sales, the reverse of traditional movie chains. It also charges nearly $30 for most of its tickets, reflecting how it is targeting affluent moviegoers who can afford to spend more on a night out.