Netflix Acquires 'Sherrybaby' With IFC Films to Handle Theatrical Distribution This Summer

Netflix Acquires 'Sherrybaby' With IFC Films to Handle Theatrical Distribution This Summer

Produced by Big Beach in Association With Elevation Filmworks, Indie Title is 'Tour du Force' for Maggie Gyllenhaal

LOS GATOS, Calif., June 1 /PRNewswire-FirstCall/ -- Netflix (NASDAQ:NFLX), the world's largest online movie rental service, today announced it has acquired all North American rights to "Sherrybaby," a buzz-maker at this year's Sundance Film Festival. The film, written and directed by Laurie Collyer, features a critically-acclaimed lead performance by Maggie Gyllenhaal.

The "Sherrybaby" deal includes theatrical, DVD, television and download rights and will be released through Netflix' newly created Red Envelope Entertainment group. Netflix has inked an agreement with IFC Films to handle the U.S. theatrical distribution, currently scheduled for an August 25, 2006 release date. The film will be available at www.netflix.com on November 7, 2006.

"'Sherrybaby' is a powerful story of redemption that we believe will have great consumer appeal," said Ted Sarandos, chief content officer of Netflix. "Maggie Gyllenhaal is one of the most significant actors of her generation. Her work is among the most popular with Indie film lovers and this performance will allow a new and wide audience to take notice of her."

Netflix continues to be a significant force of innovation in film distribution, giving its subscribers entree to little known films while giving filmmakers a platform to expose less commercial projects to a broad audience. With its acquisition of original content, Netflix can offer consumers a wide variety of films they might not otherwise see.

"Partnering with Netflix to access its network and resources will make a tremendous difference in the number of people who will see "Sherrybaby" in the U.S.," said Marc Turtletaub, principal at Big Beach. "Utilizing alternative means of film distribution is important to filmmakers like Big Beach since we have an opportunity to stretch our creativity and make films that matter and will be seen."

Jonathan Sehring, president of IFC Entertainment, said, "This is an exciting project for a great many reasons. We adore Maggie, having worked with her on Casa de Los Babys which we released in 2003. In 'Sherrybaby,' she is simply spectacular and IFC is thrilled to share it with audiences across the country. We are also delighted to be working with Big Beach once again and, of course, with our trailblazing colleagues at Netflix."

"Sherrybaby" received critical acclaim at Sundance based on the gripping performance of Ms. Gyllenhaal, who portrays a young woman (Sherry) struggling to keep her life on the right track. Recently released from prison with dreams of getting a job, settling down, and being a mother to her five-year-old daughter, Sherry encounters problems when she realizes her brother and his wife are invested in raising the child themselves. The constricting realities of unemployment and parole complicate things even more. The film is produced by Mr. Turtletaub of Big Beach and Lemore Syvan of Elevation Filmworks. Los Angeles-based Katapult Film Sales holds the international rights.

Ms. Gyllenhaal has a number of films in the pipeline for 2006, including "World Trade Center" from director Oliver Stone; "Stranger than Fiction" directed by Marc Forster; and "Trust the Man" by Bart Fruendlich and featuring Julianne Moore.

About Big Beach Films

Founded in 2004 by Mr. Turtletaub, Peter Saraf and Jeb Brody, Big Beach is a New York-based company that produces and finances independent feature films and documentaries.

About IFC Films

IFC Films is a leading theatrical film distribution company bringing the best of independent and specialized films to theaters. IFC Films releases approximately 10 films per year, building its slate of titles from an aggressive acquisitions program and selected in-house productions. IFC Films is part of IFC Entertainment, which also consists of IFC Productions, InDigEnt (a digital production arm) the new IFC Center in Greenwich Village, and the day and date label, IFC First Take.

About Netflix

Netflix is the world's largest online movie rental service, providing more than four million subscribers access to over 60,00 DVD titles. The company offers a variety of subscription plans, starting at $9.99 a month. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by the USPS from regional shipping centers located throughout the United States. Netflix can reach more than 90 percent of its subscribers with generally one business-day delivery. Netflix offers personalized movie recommendations to its members and has more than one billion movie ratings. Netflix also allows members to share and recommend movies to one another through its FriendsSM feature. For more information, visit www.netflix.com.

Source: Netflix, Inc.

CONTACT: Bronagh Hanley of Netflix, +1-408-540-3916, or
bhanley@netflix.com

Web site: http://www.netflix.com/

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