Netflix announced on Monday that it will be forging a partnership with Weinstein Co. to release "Crouching Tiger, Hidden Dragon: The Green Legend" to all of its subscribers on Aug. 28, 2015. The movie will be Netflix's first attempt at a full-length feature film.

The second installment will be directed by Hong Kong filmmaker Yuen Wo-ping.

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Although the movie is available to Netfliz subscribers and will premiere at the same time on some IMAX theaters around the world, the movie will not open in mainstream theaters.

The flick will break all the rules of traditional movies - that is, to open in theaters and then eventually be made available on DVD and online streaming services. 

Netflix Chief Content Officer Ted Sarandos stated that the movie will prove to Hollywood that the old ways of doing things are no longer the only ways people make and consume movies. Consumption is different and there should also be a different way to release movies and television shows.

Recently, Netflix has expanded to the European market and has released its own hit television series, including the much-talked-about "Orange is the New Black" and "House of Cards". Rather than releasing one episode at a time, the company releases the whole season of its shows all at once in order to allow its subscribers to binge-watch.

"What I am hoping is that it will be a proof point that the sky doesn't fall. These are two different experiences, like going to a football game and watching a football game on TV," Sarandos stated.

Harvey Weinstein, co-chairman of the Weinstein Co., stated that he feels confident in their new enterprise, considering that Netflix is at the forefront of the new and evolving way people watch television and movies.

The sequel, entitled "Crouching Tiger, Hidden Dragon: The Green Legend" will star Michelle Yeoh, who will reprise her role as the warrior Yu Shu Lien. "Ip Man" star Donnie Yen will star as Silent Wolf.