As reported in Variety, Netflix Chief Content Officer Ted Sarandos recently outlined their strategy to break into the film business at the Cannes Film Festival, again.

Recall that Netflix upended the TV industry when it began producing its own series like “Lilyhammer,” “House of Cards” and “Orange Is the New Black.”

“Sarnados said that when Netflix launched in 1997, 90% of the content viewed on the service was movies. Now it’s only 33%, with TV series making up two-thirds of what people watch on Netflix.”

Sarandos mentioned Netflix has five or six feature projects in the works, some picked up at film festivals, some produced in-house.

Budgets range from $10 to $50 million.

Some will go straight to Neflix (like Adam Sandler’s “Ridiculous 8”) and some will be released theatrically first. He would like to see more day and date releases.

Not everyone will recall that Netflix previously operated a film acquisition and production company called Red Envelope Entertainment which it closed in 2008, in part to avoid competition with its studio partners.

My take: Netflix has the market leader’s competitive advantage. What other subscription video on demand (SVOD) platforms do people like, and actually use? Anyone got Shomi or Crave?