If the rumors are true, the third film in the budding Cloverfield franchise will be released on Netflix instead of getting a traditional theatrical release like its two predecessors. 

Cloverfield 3, which is also goes by the name God Particle, has had multiple release dates and was most recently set for this coming April. But after a string of delays, the space station-set film 's future with the studio is in doubt. This according to The Tracking Board's Jeff Sneider, who heard whispers of the potential deal at Sundance.  

The film—which was produced by JJ Abrams' Bad Robot imprint—revolves around a crew of astronauts aboard a space station who must fight for their lives after a science experiment goes wrong and makes the earth disappear. It was directed by Julius Onah and stars Elizabeth Debicki, Daniel Bruhl, Gugu Mbatha Raw, Chris O’Dowd, Ziyi Zhang and David Oyelowo.

Based on the success of the first two Cloverfield films, this acquisition would be huge for Netflix and its escalating assault on traditional theatrical release models. The streaming giant might not be as scary as a renegade monster terrorizing New York City, but if you're a major movie studio, it's pretty damn close.