Post by Deleted on Nov 16, 2020 21:42:51 GMT -5
(The Guardian) Movie theatre operator Cinemark Holdings Inc struck a deal that will allow Universal Pictures to offer its movies in US homes as soon as 17 days after they debut in theatres, the companies said on Monday, Reuters reports.
The multi-year agreement is similar to one that Comcast-owned Universal made in July with AMC Entertainment Holdings Inc, the world’s largest theater chain, embracing a major shift from traditional movie release patterns.
Under the arrangement, Universal could offer movies for sale via premium video-on-demand after they have played for at least three weekends in theaters, a statement from the companies said. That would shrink the exclusive window a movie plays in theaters from the roughly 74 days that was typical before the Covid-19 pandemic shut down cinemas.
Movies that open with more than $50 million at box offices would be exclusive to theaters for at least five weekends, or 31 days, before they could be offered on demand. That would likely include Universal’s big franchises such as “Fast & Furious” and “Jurassic World.”
Universal is one of the few major studios sending movies to theaters in the coming months as many movie houses remain closed due to the pandemic. The studio will debut animated film “The Croods: A New Age” on 25 November, Tom Hanks drama “News of the World” on 25 December and three other movies before year’s end.