AMC-Universal Agreement Allows Early PVOD Release After 3 Weekends In Theaters
The window between theatrical and home release has been getting shorter and shorter over the last few years and the pandemic has lead to a brand-new rollout for films. Universal Pictures was one of the first studios to put a movie straight to premium video-on-demand services with Trolls World Tour earlier this year due to theater closures. After comments made by NBCUniversal CEO Jeff Shell off the heels Trolls World Tour‘s VOD success, AMC said that they would no longer show films from Universal Pictures in their theaters.
On Tuesday, it was announced that AMC Theaters and Universal Pictures have come to an agreement that will see movies released on PVOD after at least three weekends in U.S. theaters as opposed to 90-days. AMC Theaters will also get a piece of the Universal films’ VOD sales. Universal Filmed Entertainment Group chair Donna Langley said the following in a joint statement:
“The theatrical experience continues to be the cornerstone of our business. The partnership we’ve forged with AMC is driven by our collective desire to ensure a thriving future for the film distribution ecosystem and to meet consumer demand with flexibility and optionality.”
AMC CEO Adam Aron also added:
“AMC enthusiastically embraces this new industry model both because we are participating in the entirety of the economics of the new structure, and because premium video on demand creates the added potential for increased movie studio profitability, which should in turn lead to the green-lighting of more theatrical movies. This multi-year agreement preserves exclusivity for theatrical viewing for at least the first three weekends of a film’s release, during which time a considerable majority of a movie’s theatrical box office revenue typically is generated.”
Will you wait for films to be released on PVOD instead of heading to theaters? Sound-off in the comments section below!
Here is the official synopsis for one of Universal Pictures’ major releases next year, Fast and Furious 9:
Vin Diesel’s Dom Toretto is leading a quiet life off the grid with Letty and his son, little Brian, but they know that danger always lurks just over their peaceful horizon. This time, that threat will force Dom to confront the sins of his past if he’s going to save those he loves most. His crew joins together to stop a world-shattering plot led by the most skilled assassin and high-performance driver they’ve ever encountered: a man who also happens to be Dom’s forsaken brother, Jakob (John Cena, next year’s The Suicide Squad).
F9 sees the return of Justin Lin as director, who helmed the third, fourth, fifth and sixth chapters of the series when it transformed into a global blockbuster. The action hurtles around the globe—from London to Tokyo, from Central America to Edinburgh, and from a secret bunker in Azerbaijan to the teeming streets of Tblisi. Along the way, old friends will be resurrected, old foes will return, history will be rewritten, and the true meaning of family will be tested like never before.
Directed Justin Lin from a script written by Daniel Casey, Fast and Furious 9 stars Vin Diesel, John Cena, Michelle Rodriguez, Tyrese Gibson, Chris “Ludacris” Bridges, Jordana Brewster, Nathalie Emmanuel, Cardi B, and Sung Kang, with Helen Mirren and Charlize Theron.
Fast and Furious 9 will be released in theaters on April 2, 2021. Stay tuned for all the latest news on the status of movie theaters and be sure to subscribe to our YouTube channel for more video content in the future!
Source: Comcast
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