The door to the headquarters of the Canadian cinema company Cineplex Entertainment.
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Universal has entered into another agreement with a major theater chain to shorten the theater window from three months to as little as 1
On Friday, the company announced that it had reached a multi-year agreement with Canada’s largest cinema chain Cineplex to allow three full weekends of theatrical exclusivity before being allowed to launch on premium video on-demand platforms.
The agreement also stipulates that if a title has a gross opening weekend of $ 50 million or more, the film will only play in theaters for at least five full weekends or 31 days before being made available on PVOD. The full terms of the agreement were not disclosed.
“As audience fragmentation accelerated due to the rise of digital, streaming and cord cutting, as well as the unprecedented problems our industry is facing right now, our relationship with the exhibition had to evolve and adapt to the changing distribution landscape,” Donna Langley, chair of Universal Filmed Entertainment Group, said in the statement.
Universal has made similar offers with AMC and Cinemark, the largest exhibitors in the United States, and is the only major studio to have reached this type of agreement with exhibitors.
There are just under 600 cinemas in Canada, 165 of which belong to Cineplex. Canadian box office totals are included in the North American census, which is used by industry to determine the success of a movie during its opening and full run in theaters.
Universal has five theatrical releases scheduled for the remaining two months of 2020. “The Croods: A New Age” is expected on Thanksgiving, and the company has four titles in December: “Half Brothers,” “All My Life,” “News of the World” and “Promising young woman.”
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.