Though they are frequently lumped together, the two titans’ Sundance strategies differed widely. With Ted Hope leading the Amazon acquisitions charge, the company bought domestic theatrical rights on its six titles and will serve as the domestic distributor. By contrast, Netflix took only SVOD rights on their Sundance films, allowing sales agents to sell theatrical rights at a later date. The Netflix model essentially pegs the value of a film, a dramatic change from the Sundance modus operandi whereby the theatrical rights trumped all else.
Source: Sundance Wrap: Why Netflix and Amazon Dominance Matters – Hollywood Reporter