In an unprecedented move, AMC Theaters agreed to shorten the time Universal Pictures films will be in theaters before they are made digitally, an agreement derived from Universal’s of Trolls: World Tour video-on-demand due to the Covid-19 pandemic. according to several reports.
According to CNBC, studios generally participate in exclusive 90-day agreements to show videos in theaters, however, under the new agreement, The Universal and Focus features will only have to be published 17 days before they are released at home.
With social estrangement policies in place and theaters closed in April, Universal will experience and release its film Trolls: World Tour directly on video-to-order, earning good fortune by raising approximately $100 million until the end of the month.
However, following a Wall Street Journal article on the film’s success and how Universal expected to release films at home and theaters same day even after theaters reopen, AMC CEO Adam Aron released a statement saying, “Going forward, AMC will not license any Universal movies in any of our 1,000 theatres globally on these terms.”
Numerous films have released digitally given theater closures, though blockbusters like “Wonder Woman 1984” have been delayed until the end of the year or even into 2021, likely to the relief of theater chains like AMC who hope to be reopened by then.
However, with a significant resurgence of cases in the United States starting in the summer, AMC’s hopes for a summer season have been dashed, delaying its reopening to an optimistic mid-to-late August.
The first big-budget feature film to be released is expected to be Christopher Nolan’s $200 million Tenet from Last August in foreign theaters, however, as the historic agreement between Universal and AMC indicates, the film industry joins many others that changed fundamentally through the Covid. 19 pandemic beyond short-term losses.
Aron, in a statement released Tuesday to the deadline, said, “AMC enthusiastically embraces this new business style, either because we participated in the entire economy of the new design and because the available premium video creates more perspectives for the growth of the film. The profitability of the studio, which in turn deserves to lead to the green lighting of more theater films ».
AMC and Regal both released rules for when theaters reopen on Tuesday as well, though, there may also be restrictions depending on state guidelines. AMC initially drew rebukes in June when it said face masks wouldn’t be required, but it quickly changed its tune following an outcry over the announcement. Covid-19 is still ravaging the world, with 16,540,137 confirmed cases globally, as well as 655,300 reported deaths.
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I cover breaking news and also report on the video game industry. I previously wrote for sites like IGN, Polygon, Red Bull eSports, Kill Screen, Playboy and PC Gamer. I
I can see the latest news and also report on the video game industry. I have already written for sites like IGN, Polygon, Red Bull eSports, Kill Screen, Playboy and PC Gamer. I also controlled a YouTube game channel under the so-called strummerdood. I received a bachelor’s degree in journalism from Rowan University and did an internship at Philadelphia Magazine. You can follow me on Twitter @mattryanperez.