A prequel to one of the biggest cult comedy classics of the last 20 years is out on July 31, only it won’t be released in theaters. And, unlike its predecessor, it’s not a movie. Unless you binge watch all eight episodes in a row. Which people do. A lot. And in that case, it would be a really long movie, but still not as long as “The Hobbit” trilogy.

“Wet Hot American Summer: First Day of Camp” is a limited-run series debuting on Netflix that takes place before the events of 2001’s “Wet Hot American Summer,” an ’80s throwback indie comedy that didn’t even crack $300,000 in its small theatrical run. It’s fitting, I suppose, that its revival as a property should also happen outside the walls of movie theaters.

Back in 2001, Paul Rudd hadn’t been cast as “Ant-Man” yet, Amy Poehler hadn’t started “Parks and Recreation” yet, and Bradley Cooper hadn’t even been in a movie yet. The new series sports all of those returning cast members, plus Jon Hamm, Kristen Wiig, Jason Schwartzman, John Slattery and Chris Pine.

Like it did with “Arrested Development,” Netflix is counting on a rabid cult following to engender lots of talk in the press and on social media, and make sure that its reboot hits the mainstream. The company even rebooted AMC’s twice-canceled cop drama “The Killing” for a final season last year.

Sticking with known entities is a smart strategy, especially knowing that viewers will continue to discover these shows as their reputation solidifies. And where reputations are concerned, it doesn’t get any more prestigious than winning Emmys and Oscars.

In the last two years, Netflix has won seven prime-time Emmys for original series “House of Cards” and “Orange is the New Black,” despite the fact that they don’t run in what’s considered “prime time” and can be binge-streamed from day one. Netflix has invaded the Academy Awards as well, with its powerful Egyptian revolution documentary “The Square” netting a richly deserved nomination in 2014.

With over 60 million subscribers globally, however, the company is also thinking more internationally. The Wachowskis’ Netflix series “Sense8” is a heartfelt fantasy/drama of intercontinental psychic social justice that spans eight countries — even if it is all in English — while Spanish and French-language shows are on their way.

On Aug. 28, Netflix pulls its biggest gamble to date, releasing “Crouching Tiger, Hidden Dragon II: The Green Legend” on Netflix the same day The Weinstein Company puts it in IMAX theaters across the nation.

In 2000, the Wuxia splendor of Ang Lee’s original garnered four Oscar wins and became the biggest foreign language film ever. You’d think this makes it a safe bet across the world, but Lee’s not directing it.

Instead, choreographer Yuen Woo-ping is helming the picture. If it has the unexpected picturesque poignancy of the first movie, it may just change the way films are distributed forever, allowing viewers to experience a unique IMAX showing if they are so moved. If it doesn’t, it could be an expensive flop, and anger theater chains even more than it already has.

Here’s the basic problem I see with Netflix at this critical juncture: Along with HBO, Showtime, AMC and FX, these entities own the best original adult programming around, but no one company owns the majority of it. HBO has its streaming service HBO Now and is in bed with Amazon Prime, streaming older seasons of its shows there. The former cable-only network also gets a good amount of post-theatrical movie exclusives as well.

The other companies have two or three essential shows each, and none of them wants to play nice with the others. Therefore, a quandary remains.

Cord-cutters will likely pay for access to at least two streaming networks a month, easy. But will they wait for shows on premium and pay-cable (or satellite) stations to show up there? If not, they will still turn to pirate torrent sites to illegally download the shows and movies they want to see. The industry has yet to curb these habits.

I, for one, always feel the need to keep current, especially since I’m on Twitter all time, where live-tweeting premieres of new episodes is fair game — and pretty much standard these days. Right now I have a lot of subscriptions and I have to be strategic about which shows I binge, which ones I watch weekly during their first run, and which ones I catch up with later.

When it comes to movies, it’s a similar philosophy: Prioritize the ones to see in the theater, then the ones you know you can catch up on via streaming or Blu-ray.

Netflix was smart to pivot into becoming an original content creator (even if I have to admit I’m not excited about Adam Sandler’s four-movie deal), and HBO was smart to pivot into a streaming video offering.

I prefer watching movies in a theater, but increasingly, I won’t have that choice. “Beasts of No Name,” from “True Detective” director Cary Fukunaga, is heading straight to Netflix, and major theater chains are boycotting the film. At the risk of sounding out of touch, I guess I’ll take my movies wherever I can get them. I still can’t imagine ever watching a movie or TV show on my phone.

Check back in another year, though. That will probably change too.