Los Angeles, Apr 12 (IANS): Online streaming giant Netflix has pulled out of the 71st Cannes Film Festival due to a new rule that the fest won't entertain in its competition section any movie that didn't have a theatrical run.

Netflix officials, however, hope the Cannes movie jamboree reconsiders its decision, reports variety.com.

Netflix's chief content officer Ted Sarandos said: "We want our films to be on fair ground with every other filmmaker. There's a risk in us going in this way and having our films and filmmakers treated disrespectfully at the festival. They have set the tone. I don't think it would be good for us to be there."

Last year, Netflix brought "Okja" and "The Meyerowitz Stories", which led to protests from French cinema owners.

French law states that movies cannot be available on home platforms for 36 months after being shown in cinemas. This would directly conflict with Netflix's day-on-date release for their films.

This year, Thierry Fremaux, the festival's artistic director, imposed a ban on movies competing for the main prizes without a theatrical release.

Sarandos called the decision "completely contrary to the spirit of any film festival in the world".

The Cannes Film Festival will be held from May 8 to 19.