After 15 years, a Crouching Tiger sequel is set to launch on August 28, 2015 through the collaborative efforts of live-streaming network Netflix and The Weinstein Co.

Netflix and The Weinstein Co. agreed to make the second movie, which is a continuation of "Crouching Tiger, Hidden Dragon", a martial arts epic created by Ang Lee. The original movie was shown in 2000 and garnered four Oscars and $213 million at the world box office. The new version will be featured at IMAX theaters and via Netflix's live-streaming service.

Michelle Yeoh will be reprising her role as Yu Shu-Lien in the new movie. Donnie Yen will take the role of Silent Wolf. According to TheVerge.com, the sequel will still be based on books in the "Crane-Iron Pentalogy" written by Wang Du Lu. Yuen Wo-Ping will direct the Crouching Tiger sequel. Yuen is an expert martial arts choreographer, previously directing fights scenes in films like "The Matrix" trilogy, "Kill Bill", "Kill Bill 2" and "Tai Chi Master". The film is produced by Harvey Weinstein, Sarah Aubrey and Peter Berg.

In a report by Variety.com, the sequel is entitled "Crouching Tiger, Hidden Dragon: The Green Legend", which will be the first of many major films to premier day-and-date both in IMAX theaters and via SVOD service.

Ted Sarandos, chief content officer of Netflix, said, "Fans will have unprecedented choice in how they enjoy an amazing and memorable film that combines intense action and incredible beauty. We are honored to be working with Harvey Weinstein and a world-class team of creators to bring this epic story to people all over the world and to partner with IMAX, a brand that represents the highest quality of immersive entertainment, in the distribution of this film."

The Crouching Tiger sequel is already shooting in New Zealand and will be the first original movie by Netflix.