Cinemark and Universal Strike Theatrical Release Deal
In the wake of the deal AMC has announced with Universal, Cinemark, and has announced that it has nailed down its own deal with the studio regarding theatrical releases and Premium VOD.
The new deal will call for a 31-day theatrical window for films that open with over $50 million at the box office, and 17 days for films that open with less than $50 million. Also, films could be showing both on-demand, as well as being shown in the theatres.
"Universal's century-long partnership with exhibition is rooted in the theatrical experience, and we are more committed than ever for audiences to experience our movies on the big screen. Mark Zoradi and the team at Cinemark have been outstanding partners, and Peter Levinsohn [Vice Chairman & Chief Distribution Officer, UFEG] has done a remarkable job on the studio's behalf in making deals that give us the confidence to release our movies in the marketplace, keep the content pipeline moving, and provide consumers with the optionality that they are looking for," said Donna Langley, chairman, UFEG.
He went on to say, "We are extremely pleased to further enhance our strong partnership with Universal as we evolve the exclusive theatrical window. 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."