KEY POINTS
  • Netflix Chief Content Officer Ted Sarandos told Hollywood trade publication Variety in an interview it was pointless to show at Cannes after the festival rule change.
  • Cannes festival director Thierry Fremaux said last month that Netflix had refused to give its movies theatrical distribution in France and would, therefore, be banned from competition at the 12-day festival.
  • Netflix plans to release 80 original films in 2018 to its 109 million streaming customers around the world.

Netflix Inc said on Wednesday it was totally pulling out of the Cannes Film Festival next month after organizers banned the streaming platform's films from competition for its refusal to release them in cinemas.

Netflix Chief Content Officer Ted Sarandos told Hollywood trade publication Variety in an interview it was pointless to show at Cannes after the festival rule change.