After proving it could kill it in the TV department, it was only a matter of time before Netflix got into the movie game. Today the company announced its first original film, Crouching Tiger, Hidden Dragon: Green Legend. The sequel to the legendary 2000 martial arts flick will hit IMAX theatres and Netflix simultaneously on Aug. 28, 2015

Michelle Yeoh will come back as Yu Shu-Lien, while Donnie Yen of Ip Man fame will come on to co-star as Silent Wolf. Yuen Wo-Ping, who did choreography on The Matrix trilogy and Kill Bill 1 & 2, will serve as director. 

The sequel, which is being made in partnership with The Weinstein Company, is just the first films Netflix plans to stream the on the same day as the theatrical release. 

"The moviegoing experience is evolving quickly and profoundly," Harvy Weinstein said, "and Netflix is unquestionably at the forefront of that movement. We are tremendously excited to be continuing our great relationship with Netflix and bringing fans all over the world the latest chapter in this amazing and intriguing story."

The Netflix movie takeover begins now. How long until it's dominating Oscar nominations like it did this year at the Emmys?