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Netflix is getting into the movie-making business. The streaming service announced this week that it would team with Weinstein Co. to give a day-and-date release to Crouching Tiger, Hidden Dragon: The Green Legend, the sequel to Ang Lee‘s 2000 film. The movie will hit Netflix and IMAX simultaneously in summer 2015.

Fight choreographer Yuen Woo-Ping is directing this one, with Michelle Yeoh reprising her role as Yu Shu-Lien. Donnie Yen joins the cast as Silent Wolf. Hit the jump for all the details on the Crouching Tiger Hidden Dragon sequel Netflix / IMAX release. Plus, get a look at the first Crouching Tiger Hidden Dragon sequel photos.

Netflix revealed the big news in a press release. Crouching Tiger, Hidden Dragon: The Green Legend will premiere exclusively on Netflix and in select IMAX theaters on August 28, 2015. It’s one of several day-and-date releases Netflix has planned, but as of now is slated to be the first one out of the gate.

Crouching Tiger, Hidden Dragon: The Green Legend will be made available to Netflix subscribers at no additional cost. Only IMAX will screen the film that day, not other (regular) theater chains. That makes for two very different options, and Netflix’s chief content officer Ted Sarandos says that’s the point.

“What I am hoping is that it will be a proof point that the sky doesn’t fall,” he told the New York Times. “These are two different experiences, like going to a football game and watching a football game on TV.”

Harry Shum Jr., Jason Scott Lee, Roger Yuan, and Natasha Liu Bordizzo also star in the action sequel, which is shooting right now in New Zealand. It’s based on Wang Dulu‘s novel Iron Knight, Silver Vase, the fifth book in the Crane-Iron Pentalogy (Crouching Tiger, Hidden Dragon was #4).

Read the full press release and get an eyeful of the first still featuring Donnie Yen below. The first image of the Yeoh in the Crouching Tiger Hidden Dragon sequel can be seen above as the header.

NETFLIX ANNOUNCES FIRST ORIGINAL MOVIE

CROUCHING TIGER, HIDDEN DRAGON: THE GREEN LEGEND TO PREMIERE SIMULTANEOUSLY ON NETFLIX AND IN SELECT GLOBAL IMAX® THEATERS

Michelle Yeoh and Donnie Yen star under the direction of Yuen Wo-Ping in the Sequel to the Academy Award®-winning 2000 film
Beverly Hills, Ca. and New York, September 29, 2014–Crouching Tiger, Hidden Dragon: The Green Legend, the stunning next chapter in the saga started by the critically and popularly acclaimed Ang Lee martial arts epic, will premiere exclusively on Netflix and in selected global IMAX® theaters on August 28, 2015.

Produced by The Weinstein Company, Crouching Tiger, Hidden Dragon: The Green Legend echoes the themes of the original movie, but tells its own story — one of lost love, young love, a legendary sword and one last opportunity at redemption, set against breathtaking action in an epic martial arts battle between good and evil that will decide the fate of the Martial World.

Directed by the renowned martial arts choreographer (The Matrix Trilogy and Kill Bill 1&2) and director (Tai Chi Master) Yuen Wo-Ping, Crouching Tiger, Hidden Dragon: The Green Legend stars Michelle Yeoh (Crouching Tiger, Hidden Dragon, The Lady) reprising her role as Yu Shu-Lien and Donnie Yen (Ip Man 1&2, Monkey King 3D) as Silent Wolf.

The film is to be the first of several major films backed by Netflix to premiere on the same day on the world’s leading Internet TV network and in select IMAX theaters globally, giving consumers and exhibitors around the world unparalleled flexibility in how, when and where they enjoy a major motion picture.

“Fans will have unprecedented choice in how they enjoy an amazing and memorable film that combines intense action and incredible beauty,” said Netflix Chief Content Officer Ted Sarandos. “We are honored 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.”

“The moviegoing experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement,” said TWC Co-Chairman Harvey Weinstein. “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.”

“IMAX has a terrific opportunity, via this partnership with Netflix, to release Crouching Tiger – a high-quality, action-packed film that is right in our wheelhouse — at the end of the summer blockbuster season,” said Greg Foster, Senior Executive Vice President, IMAX Corp. and CEO of IMAX Entertainment. “We are particularly hopeful it will play in our highly successful China market. In territories where we simultaneously release with Netflix, we are excited to offer consumers the option of deciding how, when and where they want to view the film, and exhibitors the opportunity to participate in this alternative form of content in a new and innovative way.”

Based on the acclaimed novel, Iron Knight, Silver Vase, by Wang Dulu (book 5 in the Crane-Iron Pentalogy) and written by John Fusco (Marco Polo) the new film is produced by Harvey Weinstein (Academy Award winner – The King’s Speech, The Artist) and Peter Berg (Emmy Award winner – Friday Night Lights; Lone Survivor, Hancock) and Sarah Aubrey (Friday Night Lights; Lone Survivor, Hancock) and executive produced by Morten Tyldum (Headhunters, The Imitation Game), Ralph Winter (X-Men franchise), Anthony Wong, and Bey Logan (The Medallion).

Crouching Tiger, Hidden Dragon: The Green Legend also stars Harry Shum Jr (Glee, Revenge of the Green Dragons), Jason Scott Lee (Seventh Son, Hawaii Five-O), Roger Yuan (Bulletproof Monk), Eugenia Yuan (Revenge of the Green Dragons) and newcomer Natasha Liu Bordizzo.

Principal photography is now underway in New Zealand. The film’s director of photography is Tom Sigel (Drive, X-Men: Days of Future Past) and design is led by the Academy Award®-winning Lord of the Rings team of costume designer Ngila Dickson, production designer Grant Major and visual effects supervisor Mark Stetson.

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