17 NOV 2020

CINEMARK ALSO CLOSES DEAL WITH UNIVERSAL TO SHORTEN THEATRICAL WINDOW

The deal will allow earlier premier on-demand releases. It follows Universal’s deal with AMC five months ago.

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Universal and Cinemark announced a deal that will decrease the theatrical window on select studio’s releases to as short as 17 days. Though the full terms of the agreement haven’t been disclosed, it will allow Universal and Focus Features to release films on premium video on demand just three weeks following its theater debut. The company will announce which titles the PVOD will apply to. “We are extremely pleased to further enhance our strong partnership with Universal as we evolve the exclusive theatrical window,” said Mark Zoradi, Cinemark CEO. 

Though the full terms of the agreement haven’t been disclosed, it will allow Universal and Focus Features to release films on premium video on demand just three weeks following its theater debut. The company will announce which titles the PVOD will apply to.
Under Cinemark  If a film earns a domestic opening weekend of at least $50 million, Cinemark will be guaranteed theatrical exclusivity for five weekends, or 31 days, instead of three weekends.

Under the Cinemark deal, blockbusters will receive a longer theatrical window. For example, if a film earns at least USD 50 million, Cinemark’s exclusivity for the title for five weekends as opposed to three. The agreement also calls for a 31-day theatrical window on Uni and Focus titles opening to just over USD 50 million at the domestic box office and maintained that Universal would share the digital profits with AMC as part of the arrangement “We believe a more dynamic theatrical window, whereby movie theaters continue to provide an event-sized launching platform for films that maximize box office and bolsters the success of subsequent distribution channels, is in the shared best interests of studios, exhibitors, and, most importantly, moviegoers," Zoradi said.

As a result of theaters fearing a financial burden due to early theatrical releases, a new clause allowing studio insiders voice will also be added to the Universal/AMC deal to secure major revenue from upcoming films like “F9” and “Jurassic World: Dominion.” “Universal’s century-long partnership with the exhibition is rooted in the theatrical experience, and we are more committed than ever for audiences to experience our movies on the big screen,” said Donna Langley, Chairman of Universal Filmed Entertainment Group.

 

We are extremely pleased to further enhance our strong partnership with Universal as we evolve the exclusive theatrical window.” Mark Zoradi CEO, Cinemark