Hollywood has been low key hurting during the Coronavirus pandemic, especially the movie theater industry.
Universal Pictures and AMC Theaters have reached a deal that shortens the time between when a movie premieres in theaters to when it’s able to move to other platforms like digital VOD. The new deal makes it so that Universal can move its films after just three weeks in theaters.
Usually, movie distributors and cinemas agreed to let a movie run in theaters for 90 days before getting the option to make films available in homes.
“The partnership we’ve forged with AMC is driven by our collective desire to ensure a thriving future for the film distribution ecosystem and to meet consumer demand with flexibility and optionality,” says Universal Filmed Entertainment Group chairman Donna Langley in a statement.
AMC, the country and world’s largest theater chain, is expected to share in the revenue from PVOD. AMC was hit particularly hard because of the pandemic, as their business was deemed nonessential and in cities like New York and Los Angeles, haven’t been open since early March.
The movie theater experience has been crippled by COVID-19. While most theaters aren’t open in the US right now when they do, will you be comfortable going back to watch a movie?
This deal by AMC and Universal could open the door for more movie studios to follow suit.