Following the successes of House of Cards and Orange Is The New Black, the streaming giant is branching out into full-length features.
Netflix will release Crouching Tiger, Hidden Dragon: The Green Legend on both its own service and in IMAX theatres next summer, in conjunction with The Weinstein Company.
Ang Lee, who directed the original, has been replaced by Yuen Wo-Ping but Michelle Yeoh and Donnie Yen will both be reprising their roles from the original.
Shooting gets underway in New Zealand in the near future, with Netflix hoping that the release paves the way for a change in the way that films are released.
Currently, movies only stream months after a cinematic run but with several film projects set to follow The Green Legend, Netflix hope to revolutionise the landscape.
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