The movie will be the streaming service’s first ever original, feature-length piece and follows a number of successful original series commissions, including ‘House Of Cards’ and ‘Orange Is The New Black’.
The sequel will be titled ‘Crouching Tiger, Hidden Dragon: The Green Legend’ and Michelle Yeoh is confirmed to be reprising her role as Yu Shu-Lien.
Sadly though, Ang Lee will not be directing the movie. The job has been taken on by Yuen Wo-Ping and filming has already begun in New Zealand.
Harvey Weinstein has shared his joy ahead of the movie’s 2015 release, stating: "The movie-going experience is evolving quickly and profoundly, and Netflix is unquestionably at the forefront of that movement.
"We are tremendously excited to be continuing our great relationship with Netflix and bringing to fans all over the world the latest chapter in this amazing and intriguing story."
At present, Netflix has over 50 million subscribers worldwide and the service was responsible for bringing ‘Breaking Bad’ to the UK when it failed to find a home on a British television channel.