Netflix ,the entertainment streaming channel has leased out New York’s iconic Paris theatre into  a central brand hub for its events, screenings and theatrical releases.

The 1940s Midtown movie theater, the last single-screen in the city, was shuttered in August after its lease with City Cinemas expired. The venue temporarily reopened to screen Noah Baumbach’s Marriage Story on 6 November, as part of the Netflix film’s awards push. Later Netflix confirmed in a press release that it had signed an ‘extended lease agreement’ with Solow’s estate to turn the space into ‘a home for special Netflix events, screenings and theatrical releases’.

Ted Sarandos, Netflix’s chief content officer said in a statement that “After 71 years, the Paris Theatre has an enduring legacy, and remains the destination for a one-of-a kind movie-going experience,”.Ted also added that Netflix is incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers.

Paris theatre which was opened first in 1948 was considered as the home for foreign and art house films. The theatre is considered by the movie goers as a monument of cinematic history. Aside from claiming a PR win, the deal will give Netflix greater control of its brand environment when it comes to screenings and consumer-facing experiences – a marketing platform it’s been spending more on in recent years.

Netflix is the world's leading streaming entertainment service with over 158 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Now with the new leasing out of Paris theatre the service is going to reach a new level among the movie goers of New York.