“The theatrical experience continues to be the cornerstone of our business,” said Donna Langley, chairman of Universal Filmed Entertainment Group. On Tuesday, both sides made nice, with Universal praising the viability of the big screen and AMC hailing the decision as a sign of its willingness to innovate. The deal culminates a period of hostilities between the studio and the world’s largest theater chain, a chill in relations that began after AMC vowed to stop showing Universal’s movies after the studio decided last spring to unveil “ Trolls World Tour” simultaneously on digital platforms and in the few theaters still open during the coronavirus pandemic. On its upcoming slate, Universal also has “Minions: The Rise of Gru,” “Halloween Kills” with Jamie Lee Curtis and spy thriller “355” with Jessica Chastain, Penélope Cruz and Lupita Nyong’o. But if smaller movies perform better than expected on the big screen, Universal can wait to put it digital rental services.
Instead, the studio has the option to capitalize on its new freedom with mid-budget fare, comedies, and horror movies that might not have as robust runs in cinemas. It cannot sell films or rent them for lower on-demand fees, in the $3 to $6 range, until three months after they debut in cinemas.Įven though Universal, under this new agreement, could theoretically debut the next “Jurassic World” or “Fast & Furious” installments on premium on-demand with 17 days of their debut, they will likely have longer exclusive runs in cinemas. Universal only has the ability to put its movies on premium on-demand, meaning the rentals that go for roughly $20 a pop. However, in a statement, AMC’s CEO Adam Aron said the company will “share in these new revenue streams,” which means that it will get a cut of any money made on these digital rentals.
Rival studios are likely to begin pushing for exhibitors to grant them more flexibility when it comes to determining when and how their theatrical releases can make their way onto home entertainment platforms.įinancial terms of the agreement were not disclosed. The pact, sure to send shockwaves throughout the exhibition industry, has the potential to reshape the ways that movies are marketed and distributed.
Universal Pictures and AMC Theatres have put aside a bitter feud and signed a multi-year agreement that will allow the studio’s films to premiere on premium video on-demand within three weeks of their theatrical debuts.
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