Before the film was even released, Universal Pictures had announced, in November of 2020, a distribution deal with Netflix, with Universal holding onto domestic rights while Netflix would take on the film's international distribution.
Due to COVID-19, many productions have been forced to adjust their plans for release, some forgoing theaters altogether. But Variety reported that the main reason News of the World was still appearing in theaters was because of a deal the studio struck with AMC Theatres. This deal allowed Universal to place films on streaming services within weeks of premiere and in return, AMC would receive a share of the profit.
This was clearly the right move for both parties, because News of the World has been wildly popular on Netflix internationally. It's currently the fifth most-streamed Netflix movie worldwide, but as noted, the film held the No. 1 spot for nearly a week straight earlier this month (via Giant Freakin Robot).
Critics are equally impressed. In his review, Brian Tallerico for RogerEbert.com said, "It's relatively predictable and arguably a little thin in terms of ambition, but it's also refined and nuanced in ways that these films often aren't." There's no news yet on when the Tom Hanks-starrer might become available for streaming in the U.S.