Netflix are teaming up with the Weinstein Company to produce the sequel to Crouching Tiger, Hidden Dragon titled, Crouching Tiger, Hidden Dragon II: The Green Destiny. For the first time ever, the movie will be released simultaneously online and in IMAX cinemas, next August.

Michelle YeohCrouching Tiger, Hidden Dragon 's Michelle Yeoh

The film marks Netflix’s first foray into movie making after the success of original series' such as ‘House of Cards’ and ‘Orange is the New Black’. The sequel to Ang Lee’s 2000 Academy Award nominee will this time see Woo-ping Yuen behind the camera, while former Bond actress Michelle Yeoh return in the role of Yu Shu Lien.

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“The moviegoing experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement,” the Weinstein Company's Harvey Weinstein said in a statement. “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.” But it's not the first time the two companies have worked together, they have previously collobrated on a drama about explorer Marco Polo.

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Netflix’s chief content officer Ted Sarandos said when announcing the deal, “Fans will have unprecedented choice in how they enjoy an amazing and memorable film that combines intense action and incredible beauty,” “We are honoured to be working with Harvey Weinstein and a world-class team of creators to bring this epic story to people all over the world and to partner with Imax, a brand that represents the highest quality of immersive entertainment, in the distribution of this film,” he continued.

House of cards

Netflix was founded in 1997 as a postal DVD rental service and has now grown to have over 50 million subscribers  worldwide. Its original series 'House of Cards' received nine Primetime Emmy Award nominations this year, becoming the first original online-only web television series to receive major Emmy nods.