Netflix Set To Restore Historic Egyptian Theatre With A $70 Million Makeover

The iconic Egyptian Theatre, which witnessed the glamour of Hollywood's first-ever film premiere a century ago, is set to reopen its doors to the public this week. The much-anticipated revival comes after a three-year, multi-million-dollar restoration effort by streaming giant Netflix.

Constructed during the silent film era, the Egyptian Theatre gained fame as it rolled out the first-ever red carpet for the premiere of "Robin Hood" starring Douglas Fairbanks in 1922. Fast forward to the present day, and Netflix has injected a new lease of life into this historic movie house, preserving its original Egyptian Revival design while integrating state-of-the-art sound and projection equipment.

Netflix, a pioneer in the home movie-watching experience, invested $70 million to breathe fresh air into the ageing structure. Co-CEO Ted Sarandos expressed his pride in the restoration, saying, "If you had seen the theatre over the last couple of years before we were able to get in and do this work, you'd see it was showing every bit of its 100 years. To be able to bring it back, and it's a beautiful movie house, is just an incredible point of pride for us."

The Egyptian Theatre will once again play a pivotal role in the film industry, hosting Netflix premieres and other special events on weekdays. The grand reopening kicks off with a screening of David Fincher's "The Killer" on Thursday. During weekends, moviegoers can indulge in the charm of classic films carefully curated by the American Cinematheque, a nonprofit group that had initially purchased the theatre in 1986 but struggled to maintain the century-old building.

Reflecting on the transformation, American Cinematheque Chairman Rick Nicita remarked, "Even though we had spent considerable money renovating it, it still was not what we dreamt it could be. Now, it's a brand new old movie palace, if that's not a contradiction in terms. I can't wait now to see a movie here."

*Inputs from Reuters*