Netflix's Latest Coup: Debut of Crouching Tiger Sequel

The sequel to Crouching Tiger, Hidden Dragon is set to deliver a high-flying kick to the movie business as we know it with a first-of-its kind distribution deal. The deal with the Weinstein Co. will see the martial arts movie released simultaneously on Netflix and in some Imax theaters next August, reports CNBC. Crouching Tiger, Hidden Dragon: The Green Legend is expected to be the first of several major movies to make their debut on Netflix.

"The moviegoing experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement," Harvey Weinstein said in a statement released to the Hollywood Reporter, which notes that major chains may not allow Crouching Tiger 2 in the locations they control. "We are tremendously excited to be continuing our great relationship with Netflix and bringing to fans all over the world the latest chapter in this amazing and intriguing story," Weinstein said. Michelle Yeoh will reprise her role from the 2000 movie; action star Donnie Yen joins the cast, and Yuen Woo-Ping will take Ang Lee's place in the director's chair, reports Deadline. (More Crouching Tiger, Hidden Dragon stories.)