Universal Pictures and AMC Theaters have closed a major new deal regarding on-demand movie releases. In the multi-year deal, movies released by Universal Pictures may be available on premium video-on-demand channels just three weeks after their release in theaters.
No specific details on finances were announced, although AMC CEO Adam Aron said AMC Theaters will receive a percentage of the revenue from these digital releases.
It is important to note that this agreement only applies to cousin video on demand channels. That is, these digital releases will be available for around $ 20 each. Universal Pictures movies will not be available for video-on-demand channels at lower rates for three months after their film release.
Donna Langley, president of the Universal Filmed Entertainment Group, made the following statement:
“The theater experience continues to be the cornerstone of our business. The partnership we have forged with AMC is driven by our collective desire to ensure a prosperous future for the film distribution ecosystem and to meet consumer demand with flexibility and optionality. “
The film scene will likely feel the impact of COVID-19 for some time, as theaters across the country will remain closed. This deal is sure to further impact the industry.
Credit: variety
