Universal, Cinemark agree on earlier home release for movies

Reuters
Los Angeles Published: Nov 17, 2020, 07:51 AM(IST)

Universal, Cinemark agree on earlier home release for movies Photograph:( Reuters )

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The deal is similar to one that Universal made earlier this year with AMC Entertainment Holdings Inc, the world’s largest theater chain, embracing a major shift from traditional movie release patterns.

Cinemark Holdings Inc has reached a deal that will allow films from Comcast Corp’s Universal Pictures to be made available in U.S. homes as soon as 17 days after they debut in theaters, the companies said in a statement on Monday.

The deal is similar to one that Universal made earlier this year with AMC Entertainment Holdings Inc, the world’s largest theater chain, embracing a major shift from traditional movie release patterns.

Under the new agreement, Universal could offer movies for sale via premium video-on-demand after they have played for at least three weekends in theaters. That would shrink the exclusive window a movie plays in cinemas to as short as 17 days rather than the roughly 90 days that has been common practice.

Movies that open with more than $50 million at box offices would be exclusive to theaters for at least five weekends, or 31 days, before they could be offered on demand.

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