Universal Filmed Entertainment Group & Cinemark Theaters Announce Dynamic Release Window Agreement for Exhibition of Universa...
November 16 2020 - 04:30PM
Business Wire
This Dynamic Window Provides Flexibility by
Allowing Films that Open to More Than $50 Million at the Box Office
to Have At Least 31 Days of an Exclusive Theatrical Window, with
All Other Titles Receiving a Minimum of 17 Days of Theatrical
Exclusivity
Building on the two companies’ shared commitment to the
theatrical experience, while capitalizing on the opportunity to
further adapt to changing consumer behavior, particularly in light
of the current COVID-19 environment, Universal Filmed Entertainment
Group (UFEG), a division of Comcast Corporation (NASDAQ: CMCSA),
and Cinemark Holdings, Inc. (NYSE: CNK) today announced a
multi-year agreement under which UFEG films will be exhibited in
Cinemark theaters in the U.S.
The agreement includes at least three full weekends (17 days) of
theatrical exclusivity for all Universal Pictures and Focus
Features theatrical releases, at which time the studio will have
the option to make its titles available across premium video on
demand (PVOD) platforms. Under the terms of the deal, any title
that opens to $50 million or more, including many franchise titles,
will play exclusively in theaters for at least five full weekends
(31 days) before the title may become available on PVOD.
“Universal’s century-long partnership with exhibition is rooted
in the theatrical experience, and we are more committed than ever
for audiences to experience our movies on the big screen,” said
Donna Langley, Chairman, UFEG. “Mark Zoradi and the team at
Cinemark have been outstanding partners, and Peter Levinsohn [Vice
Chairman & Chief Distribution Officer, UFEG] has done a
remarkable job on the studio’s behalf in making deals that give us
the confidence to release our movies in the marketplace, keep the
content pipeline moving, and provide consumers with the optionality
that they are looking for.”
“We are extremely pleased to further enhance our strong
partnership with Universal as we evolve the exclusive theatrical
window,” said Mark Zoradi, Cinemark CEO. “We believe a more dynamic
theatrical window, whereby movie theaters continue to provide an
event-sized launching platform for films that maximize box office
and bolsters the success of subsequent distribution channels, is in
the shared best interests of studios, exhibitors and, most
importantly, moviegoers.”
The full terms of the deal are confidential and are not being
disclosed.
UFEG’s film slate, including titles from Universal Pictures,
Focus Features and DreamWorks Animation, has five theatrical
releases remaining on the 2020 calendar: The Croods: A New Age,
Half Brothers, All My Life, News of the World and Promising Young
Woman.
About Universal Filmed Entertainment
Group
Universal Filmed Entertainment Group (UFEG) produces, acquires,
markets and distributes filmed entertainment worldwide in various
media formats for theatrical, home entertainment, television and
other distribution platforms. The global division includes
Universal Pictures, Focus Features, Universal Pictures Home
Entertainment, DreamWorks Animation Film and Television. UFEG is
part of NBCUniversal, one of the world’s leading media and
entertainment companies in the development, production and
marketing of entertainment, news and information to a global
audience. NBCUniversal owns and operates a valuable portfolio of
news and entertainment networks, a premier motion picture company,
significant television production operations, a leading television
stations group, world-renowned theme parks and a suite of leading
Internet-based businesses. NBCUniversal is a subsidiary of Comcast
Corporation.
About Cinemark Holdings,
Inc.
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the
largest and most influential movie theater companies in the world.
Cinemark’s circuit, comprised of various brands that also include
Century, Tinseltown and Rave, operates 534 theaters with 5,977
screens globally (332 theaters and 4,522 screens across 41 states
domestically; 202 theaters and 1455 screens in 15 countries
throughout South and Central America). Cinemark consistently
provides an extraordinary guest experience from the initial ticket
purchase to the closing credits, including Movie Club, the first
U.S. exhibitor-launched subscription program; the highest Luxury
Lounger recliner seat penetration among the major players; XD - the
No. 1 exhibitor-brand premium large format; and expansive food and
beverage options to further enhance the moviegoing experience. For
more information go to https://ir.cinemark.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20201116006005/en/
Universal Filmed Entertainment Group Evan Langweiler
evan.langweiler@nbcuni.com
Cinemark Media Relations Caitlin Piper pr@cinemark.com
Cinemark Investor Relations Chanda Brashears ir@cinemark.com
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