Theater Chain Cinemark Enters into Release Deals with Five Top Studios
By Movieguide® Staff
The American movie theater chain Cinemark announced recent deals with five major studios that could see the traditional theatrical window shortened, Variety reports.
The theater chain revealed no agreement details. However, Cinemark’s first deal with Universal in November allowed the studio to release new movies on premium VOD platforms after 17 days—31 days if the opening weekend made $50 million in ticket sales.
Since then, Cinemark has known deals with Warner Bros. Picture Group, The Walt Disney Company, Paramount Pictures, and Sony Pictures Entertainment.
“Cinemark is thrilled to have reached new agreements with our major studio partners, and we are eager to continue providing movie fans an immersive, larger-than-life cinematic environment to see major upcoming films, ranging from the biggest blockbusters to specialty fare to family-friendly content,” Cinemark CEO Mark Zoradi said. “In our ongoing efforts to maximize attendance and box office during the pandemic and beyond, our goal is to provide the widest range of content with terms that are in the best long-term interests of Cinemark, our studio partners and moviegoers. We are pleased with these recent developments and are confident we are taking positive steps toward reigniting theatrical exhibition and evolving the industry for a post-pandemic landscape.”
Cinemark added that “each deal has unique attributes specific to the individual studio that mutually benefits both parties.”
As theaters work to adapt to the changing box office, many adopted a likened strategy to Warner Bros. and HBO Max, which sees the studio’s 2021 slate releasing simultaneously on streaming and theaters.
Movieguide® previously reported:
As COVID-19 has plagued the box office and forced exhibitors and studios to reassess their release strategies, initial strategies included two main options: move forward with a theatrical release or bypass cinemas in favor of a release on one of the many streaming services.
The Warner Bros. company’s schedule for their blockbuster lineup shifted drastically after TENET’s struggle to perform. But the studio giant made the radical decision to release their entire upcoming 2021 slate on streaming and in theaters.
All of Warner Bros. 2021 movies will see a “distribution model in which Warner Bros. will continue to exhibit the films theatrically worldwide, while adding an exclusive one month access period on the HBO Max streaming platform in the U.S. concurrent with the film’s domestic release.”
Read Also: HBO Reports 2.7M New HBO Max Subscribers for Q1, But Holds Back Detailed Streaming Numbers
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