Netflix's awards season strategy is shifting once again, and this time it's playing out in theaters. The streamer's Spanish-language Oscar contender, La Bola Negra, has seen its theatrical footprint shrink significantly just weeks before it hits the platform. After a steady expansion, the film was pulled from 132 locations this week, leaving it playing in 341 theaters across the U.S. This move comes as part of a carefully orchestrated release plan that has seen the movie enjoy a longer-than-usual run on the big screen.
Directed by the Spanish filmmaking duo known as Los Javis, La Bola Negra tells an intergenerational story following three queer men across different time periods. The film premiered at the Cannes Film Festival, where it was immediately hailed as one of the year's standout titles. It then rolled out theatrically in Europe and later in the U.S., where it opened in just four locations before gradually expanding. The decision to trim its theater count now is typical for awards contenders, which often see their runs adjusted as the season progresses and new releases take over screens.
At the box office, La Bola Negra has been a solid performer for an indie release. Produced on a reported budget of $15 million, the film has grossed nearly $45 million internationally. Domestically, it has earned $3 million after four weeks, a modest but respectable haul given its limited release. The film's theatrical run has been notable not just for its earnings but for its length—47 days—which is a record for a Netflix release. This extended window reflects the streamer's evolving approach to theatrical distribution, a strategy that has been in flux since its early awards campaigns.
Netflix's history with the Oscars has been a mixed bag. The streamer first made a major splash with Alfonso Cuarón's Roma, which earned 10 nominations in 2018 but lost Best Picture to Green Book. More recently, Emilia Pérez seemed poised for glory but stumbled for reasons unrelated to its quality. Netflix has yet to win the top prize, having been beaten by Apple TV+'s CODA in 2021. In recent years, the company has pulled back from bankrolling lavish passion projects by auteurs like Martin Scorsese and Guillermo del Toro, instead focusing on titles it believes have a stronger shot at awards glory.
For La Bola Negra, the critical reception has been overwhelmingly positive. The film holds a "Certified Fresh" 86% critics' score on Rotten Tomatoes, along with a "Verified Hot" 97% audience rating. The site's consensus praises it as "An intergenerational epic bathed in striking imagery and vibrant music," calling it "a sensorial feast that movingly testifies to the perseverance of queer identity throughout history." The cast includes Penélope Cruz, Glenn Close, Miguel Bernardeau, and Guitarricadelafuente, adding star power to the project.
As the film prepares to leave theaters, it will make its streaming debut on Netflix on December 2. This transition is a crucial moment for its awards campaign, as streaming availability often boosts visibility among voters. The film's theatrical run, while shorter than traditional releases, has been a strategic move to build buzz and qualify for awards. Whether it can translate that momentum into Oscar nominations remains to be seen, but the early signs are promising.
For fans of the film, the upcoming streaming release offers a chance to experience it at home, while those who prefer the big screen still have a few weeks to catch it in theaters. The reduced theater count is a natural part of the release cycle, and it's likely the film will see a resurgence in theaters if it lands major nominations. Until then, audiences can look forward to its arrival on Netflix, where it will join a growing slate of international titles that have found success on the platform.
Netflix's continued investment in global storytelling is evident in La Bola Negra, and its theatrical strategy reflects a broader industry trend of balancing streaming and theatrical releases. As the awards season heats up, all eyes will be on how this film performs, both at the box office and with voters. For now, the film's journey is far from over, and its next chapter begins on December 2.
