Netflix and IMAX will debut Crouching Tiger sequel on same day

LOS GATOS, Calif. (KGO) -- A Hollywood first for Netflix. Part two of the Oscar winning film Crouching Tiger, Hidden Dragon will premiere next August on Netflix and in select IMAX theaters at the same time.

The Los Gatos based streaming company announced a deal with the Weinstein Company for what it calls a new model release.

Netflix says the hope is to show Hollywood what movie fans want, and to change the traditional method for releasing films.