TORONTO – Imagine this: You’re an adventurous moviegoer, willing to take a chance on a… TORONTO – Imagine this: You’re an adventurous moviegoer, willing to take a chance on a low-budget, digitally shot film, especially knowing it was made by director Steven Soderbergh.

But maybe you’ve read an article, like this one, that describes the movie as a three-character drama, featuring nonprofessional actors, shot quickly and simply. No glossy compositions, no special effects, no spectacle.

So you have a decision to make: Do you go to the comfortable art house theater where Soderbergh’s “Bubble” opens on Friday? Or do you wait a few months until it shows up on DVD? Or wait even a few more months when it might show up on one of those cable channels devoted to independent, non-mainstream movies?

But what if you don’t have to make that choice? Magnolia Films will distribute “Bubble” initially to theaters in the Landmark art-house chain.

Magnolia Video will make the DVD available in Landmark theaters on Friday and through regular DVD retailers on Jan. 31.

And HDnet, a high-definition satellite channel, will premiere the film on Friday.

All of these companies are subsidiaries that fall under the umbrella of 2929 Entertainment, managed by partners Mark Cuban and Todd Wagner.

“It’s going to be very interesting to see what happens,” says Soderbergh, sipping orange juice for breakfast in a booth at a hotel dining room. He is there to talk about “Bubble,” the first project of the six-film deal he has made with HDnet Films, another part of 2929 Entertainment.

“The ideal for me, I suppose, is that you see the film in the theater. You like it. And on your way out, you stop at the concession stand and buy it on DVD,” says Soderbergh. But if that doesn’t happen, I’ll be pleased if people just see the DVD or watch it on TV. Any film is marginally more enjoyable on a big screen. But I see lots of films I didn’t get around to catching in theaters at home, and I don’t usually feel like I’ve missed anything.”

“I’m a filmmaker that likes to experiment, and when I know there’s a potential audience, let’s say, for ‘Ocean’s Thirteen’ (the proposed sequel to 2004’s ‘Ocean’s Twelve’), when I want to make something like ‘Full Frontal’ (an experimental, semi-improvised film Soderbergh released in 2002), I have to assume I’m dealing with a smaller level of interest, and the studios are generally not interested,” Soderbergh says.

“They’re not set up to distribute and market those kinds of films, and they don’t make the profits shareholders expect. So I see this as an opportunity to explore some territory, both artistically and with the system.”

The HDnet Films business plan doesn’t sit well with some theater owners, who are already upset with the shrinking window between the release of a film to theaters and on DVD. Knowing the DVD will be available in only a few months, they argue, causes people to skip the theater experience.

John Fithian, president of the National Association of Theatre Owners, called the HDnet Films plan a “death threat,” and at a recent industry convention, director M. Night Shyamalan called it “the worst idea I’ve ever heard.” He believes it is inspired by greed and said, “Of course, the cable companies and the Internet companies are behind it. They need their product.”

“I’d argue [audiences] are skipping the experience anyway,” counters Soderbergh. “We’re not saying all movies should be released in different formats simultaneously, but the truth is, technology has taken away a lot of the control over that.

“You can walk down a street in New York and find someone selling a pirated copy of ‘Ocean’s Twelve’ on the day it comes out. I’ve talked to people at Warner Bros. who would like to release some films on the same day they’re released in China, where they don’t enforce our copyright laws. Otherwise, you’re just giving the market to the bandits.”