The Lantern universe is the biggest in DC so it's hard to do it justice with a movie. Most of comic characters focus on just one planet, Country or just a city. The Lanterns cover Galaxies, this is a franchise that could be just as big or even bigger than Star Wars by itself.
I would love to see a movie in the theaters but a show would give them a chance to expand on many characters. How many people outside the fandom even know about the Star Sapphire Corps, The Red Lanterns or the Indigo Tribe? I loved that Atrocitus, my favorite character, got some exposure in the Injustice game but a Green Lantern show could do so much more.