Netflix just got snubbed by the biggest film in Sundance history ' here's why (NFLX)

Netflix and Amazon have been on a buying spree so far at this year's Sundance Film Festival.But Sundance hasn't been a complete triumph for Netflix, which endured a high-profile snub on Tuesday when it lost out on Nate Parker's powerful slave revolt film,"The Birth of a Nation.""The Birth of a Nation" scored a Sundance record when Fox Searchlight bought the distribution rights for$17.5 million.Losing a bidding war for the most expensive film in Sundance history doesn't seem so bad for Netflix, but here's the catch: Netflix reportedly offered $20 million, and was turned down.Why the snub'Sources told the New York TimesthatParker wanted thefilm to make a splashin theaters, and this might have led him to spurnthe extra $2.5 million Netflix promised. The Hollywood Reporter claims Parker'steam wanted a theatrical release that would rouse people to action."My responsibility to the project is to make sure to find a partner that is as passionate as we are about it socially, so if that meant we had to take less money, then those were conversations I was willing to have," Parker told The Hollywood Reporter.Netflix reportedlyheld firm to its plan of a simultaneous streaming and theatrical release, as it did with its first high-profile film lastyear, "Beasts of No Nation." But while that film was eligible for the Oscars, it was ultimately shut out, and grossed less than $1 million at the box office, according to Time."Beasts of No Nation"still reached plenty of people, withmore than 3 million views. Netflix's content chief, Ted Sarandos, said this was a "bigger audience than any specialty film could ever hope for in its first two weeks of release."ButParker wanted more than that with "Birth Of A Nation."The problem withNetflix was summed up best bySian Heder, the director of "Tallulah," which Netflix scooped up at Sundance for around $5 million. He told the New York Times:You always want your film to be shown on a big screen with perfect sound and the best projection, but thats not always the reality anymore. The way that people consume media is changing.For now, abig-money distribution deal with Netflix is seen by many film makers as a compromisenot the fulfillment of a dream.SEE ALSO:Nate Parker's 'The Birth of a Nation' a powerful achievementJoin the conversation about this storyNOW WATCH: This Google app could forever change the way you travel
Click here to read full news..