In a move it's fair to say no one probably saw coming, Universal Pictures has reached a deal with AMC Theaters which means that the studio now has the option of releasing any of its titles (including those from Focus Features) on VOD platforms after just 17 days of them playing in theaters.
A movie, like F9: The Fast Saga, will only need to play in front of moviegoers for three weekends before being made available at home, and this completely throws out the traditional theatrical window of nearly three months. In order to get AMC on board, though, Universal will have to share some of the revenue from VOD with them.
The Hollywood Reporter explains that the cost of these "Premium VOD" titles is likely to be $19.99 for a 48-hour rental similar to what happened with Trolls World Tour, and AMC would receive 10% of that. Considering what dire straits that company finds itself in financially, this is good news for them, and should help keep them afloat in the current COVID-19 landscape.
In a joint press release, Universal and AMC said they reached the historic agreement based on their "shared commitment to a mutually beneficial long-term partnership that is focused on serving consumers worldwide, while preserving and enhancing the theatrical experience."
It remains to be seen whether other studios will follow suit, but this is a game-changer, and could signal some major changes to the way movies are released moving forward. This doesn't mean something like Black Widow will arrive on Disney+ three weeks after hitting theaters (PVOD is another matter), and bigger movies are likely to stay on the big screen for longer as they continue earning.
What are your thoughts on this news?
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