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Universal Filmed Entertainment Group (UFEG), a department of Comcast Corporation (NASDAQ: CMCSA), and AMC Entertainment Holdings, Inc. (NYSE: AMC) announced a multi-year agreement under which UFEG films will be screened in WE AMC theaters.
The agreement includes at least 3 weekends (17 days) of theatrical exclusivity for all universal Pictures and Focus Features theatrical premieres, at which point the studio will be able to make its titles available in premium video on demand (PVOD). platforms, adding through AMC Theatres On Demand. In the coming weeks, the two corporations will start discussions on overseas distribution agreements in the countries of Europe and the Middle East served through AMC.
Classic Universal Windows – CloseCurlyQuote; Electronic sales (EST) and video-on-demand (VOD) remain unchanged. Corporations concluded this agreement on the basis of their shared commitment to a long-term mutual partnership that aims to serve consumers around the world, while preserving and editing the theatrical experience.
Donna Langley, president of UFEG, “The delight of theatre remains the cornerstone of our business. The association we ‘closeCurlyQuote’; Forged with AMC is motivated by our collective preference for an incredibly rich long-term for the film distribution ecosystem and to meet the customer asks with flexibility and flexibility. CloseCurlyDoubleQuote;
UFEG Vice President and Director Peter Levinsohn, who led the negotiations on behalf of the studio, added: “Universal’s commitment to innovation in the way we deliver content to the public is what our artists, partners and shareholders expect from us, and we are very pleased with the opportunity presented through this new design to grow our business. We are grateful to AMC for its partnership and leadership in working with us to conclude this historic agreement. CloseCurlyDoubleQuote;
Commenting on the agreement, Adam Aron, CEO of AMC, said: “AMC enthusiastically embraces this new business style, either because we participate in the entire economy of the new structure, and because high-end on-demand video creates more prospects for greater profitability for film studios. I arrange that in turn deserves to lead to the green lighting of more theatrical films. This multi-year agreement preserves the exclusivity for viewing in theaters for at least the first 3 weekends of the release of a film – CloseCurlyQuote; it was during which sometimes a vast majority of a film’s profits are generated in the workplace: CloseCurlyQuote; AMC will also include a percentage of those new sources of profit that will come from the movie ecosystem from premium videos on demand. So, in total, Universal and AMC one believes that this will expand the market and benefit us all. Focusing on the long-term fitness of our industry, we note that, just as restaurants have thrived even though either house has a kitchen, AMC is convinced that viewers will come in large numbers to our theaters in a post-pandemic world. While other people love to leave their homes, we believe that the mystical getaway and the delight of the magical web offered in our theaters will be an irresistible attraction, adding our giant screens, large sound and large seats, not to mention the seductive aroma of our perfectly ready popcorn. Universal and AMC have teamed up to deliver stellar films to moviegoers for a century. With this historic agreement on the evolution of the industry, we will continue together to do so and in a way that deserves to lead to our good fortune at the same time. CloseCurlyDoubleQuote;
The full terms of the agreement are confidential and disclosed.
UFEG is running with AMC and other exhibition partners in plans to restart movie premieres with a dynamic list of movies as varied as Universal Pictures, Focus Features and DreamWorks Animation, adding upcoming installments of fast and furious blockbuster, Jurassic World and lighting – CloseCurlyQuote; Franchises Despicable Me / Minions, among other highly anticipated titles.
About Universal Filmed Entertainment Group
Universal Filmed Entertainment Group (UFEG) produces, acquires, markets and distributes international film entertainment in media formats for theater, home entertainment, television and other distribution platforms. The global department includes Universal Pictures, Focus Features, Universal Pictures Home Entertainment, DreamWorks Animation Film and Television. UFEG is a component of NBCUniversal, one of CloseCurlyQuote’s leading global media and entertainment companies; in the development, production and marketing of entertainment, news and data for a global audience. NBCUniversal owns and operates a valuable portfolio of data and entertainment networks, a leading film company, primary television production operations, a leading television group, world-renowned theme parks and a set of leading Internet companies. NBCUniversal is a subsidiary of Comcast Corporation.
About AMC Entertainment Holdings, Inc.
AMC is the largest film showing company in the United States, the largest in Europe and the largest in the world with approximately 1,000 cinemas and 11,000 screens worldwide. AMC has driven innovation in the exhibition industry by: implementing its signature tilt electric seats; Offer advanced food and beverage options that generate greater visitor engagement through its loyalty and subscription programs, online page, and cellular programs that deliver high-quality, large-format reports and deliver a wide variety of content, adding the latest Hollywood and independent releases. Programming. AMC operates among the top productivity theaters in major U.S. market locations, ranking first or percentage market in 21 of the 25 largest metropolitan spaces in the United States. AMC also ranks first or second in percentage of market locations in nine of the 15 countries it serves in North America, Europe and the Middle East. For more information, www.amctheatres.com.
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