Netflix, the global streaming giant that has dramatically changed the TV industry and clashed with movie theater owners, may be ready to move onto the big screen in a new and surprising way — by owning cinemas.

The Los Gatos, California, company has explored the idea of buying movie theaters in Los Angeles and New York that would allow it to screen its growing pipeline of feature films and documentaries, according to people familiar with the situation.

Netflix executives considered acquiring Los Angeles-based Landmark Theatres, the circuit co-owned by Mark Cuban, but recently backed off — because Netflix reportedly believed the sale price for Landmark was too high.

Although no cinema deal has materialized, the idea of Netflix buying a theater chain would mark a new phase in the company’s rapid ascent to become one of the most powerful players in the entertainment industry.

Netflix has attracted its 125 million subscribers worldwide by releasing dozens of original films and TV shows annually on its fast-growing streaming service, bypassing the traditional theatrical market, as well as the cable bundle.

Netflix has promised to spend up to $8 billion this year on original and licensed content for its subscribers who pay a monthly fee to binge shows and films. The company said in October it would release 80 original movies this year alone, and has done film deals with such high-profile figures as Adam Sandler, Martin Scorsese and the Duplass brothers.

The downside for Netflix is its movies are locked out of major theater chains, and have been effectively blocked from one of the world’s most prestigious film festivals.

Netflix says it would not go to the Cannes Film Festival this year because the festival decided to ban movies from competition that don’t have theatrical distribution in France. Last year, Netflix movies including “Okja” competed at Cannes.

Owning a theatrical outlet would give Netflix a boost for awards consideration — like the Oscars — and make it more attractive for filmmakers who still want to see their movies play on the big screen.

But despite its ambitions and spending, Netflix has yet to crack the code of the movie industry. The buzz for its movies has rarely matched that for its TV shows, such as “Stranger Things,” “The Crown” and “Orange is the New Black.”

Netflix and Landmark declined comment for this article.