Cinemark’s new deal affects when films hit streaming platforms. Cinemark’s new deal involves Paramount, Sony Pictures, Warner Bos. and Disney.
Cinemark just signed a deal with Disney, Paramount and two other big motion picture studios in regards to the duration that their movies run in theaters. Cinemark is one of the main movie theater chains along with AMC and Regal Cinemas. All three chains were hit hard by the coronavirus pandemic and are striving to find a way to regain their footing as the world and specifically, the entertainment industry, reopens.
Variety confirms that Cinemark recently signed a deal with Paramount Pictures, The Walt Disney Company, The Warner Bros. Picture Group and Sony Pictures Entertainment. While the details of those deals have not been disclosed, the general premise is that movies will now have a shorter theatrical window. Essentially, movies won’t need to run in theaters for as long before releasing to streaming platforms and Blu-Ray/DVD. Cinemark CEO, Mark Zoradi, is seemingly pleased with the terms of the contract, even though the deal would appear to be a loss to its theaters at a brief glance.
The deal Cinemark signed with Sony, Paramount, Warner Bros. and Disney may mirror or be similar to a deal Cinemark signed with Universal in November. According to that deal, movies have a 17-day run in theaters before they can be released on streaming platforms. However, if the film makes $50 million or more, it must run in theaters for 31 days or five weekends before hitting streaming platforms. If this is the deal Cinemark struck with the other four motion picture studios, Zoradi would have some reason to celebrate.
Source: Variety
About The Author
Add Comment