3-Time Oscar Winner’s Answer to ‘Fifty Shades of Grey’ Lands New Streaming Home

Before you watch director Paul Thomas Anderson’s latest film, the Leonardo DiCaprio-led One Battle After Another, you might want to check out his underrated 2017 romantic drama Phantom Thread. The movie will undoubtedly gain attention in the coming months, not only because of the Anderson connection, but also because it’ll no longer hold the distinction of being the final movie of star Daniel Day-Lewis’ career. The three-time Oscar winner had seemingly retired from film acting after earning his sixth Academy Award nod for his performance in Phantom Thread. But he’s coming out of retirement this year, for his son’s first film, Anemone. It will only be his seventh feature in the last two decades. But before that, you can watch Phantom Thread on Netflix, which is where it’s headed in September.

Set in the 1950s, the period drama followed a haute couture dressmaker called Reynolds Woodcock, who becomes infatuated with a young woman played by Vicky Krieps. Featuring a soaring original score from Anderson’s usual collaborator, Jonny Greenwood, Phantom Thread earned six Oscar nominations. Like most Anderson films, its box office performance was iffy; Phantom Thread made under $50 million worldwide, against a reported budget of $35 million. But it opened to widespread acclaim. It currently sits at a “certified fresh” 91% score on the aggregator website Rotten Tomatoes, where the critics’ consensus reads, “Phantom Thread‘s finely woven narrative is filled out nicely by humor, intoxicating romantic tension, and yet another impressively committed performance from Daniel Day-Lewis.”

Warner Bros. Is Having a Terrific Run this Year

Anderson went on to direct the coming-of-age comedy drama Licorice Pizza next. But the movie failed to recover its reported budget of $40 million. All eyes are now on One Battle After Another, his most expensive movie by far. It cost a reported $150 million to produce, and is Warner Bros.’ big awards season play this year. The studio has had a terrific 2025 so far, with hits such as Sinners, Final Destination Bloodlines, F1, Superman, and Weapons. But the combined achievements of all these films would be impacted greatly if One Battle After Another were to underperform when it debuts theatrically in September. By then, Phantom Thread will be available to stream on Netflix. Stay tuned to Collider for more updates.