The door to the headquarters of the Canadian cinema company Cineplex Entertainment.
george socka | iStock Editorial | Getty Images
Universal has signed another contract with a large theater chain to cut the cinema window from three months to just 17 days.
The company announced on Friday that it has entered into a multi-year agreement with Canada’s largest cinema chain, Cineplex, to allow three full weekends of exclusive theatrical performances before it can launch on premium video-on-demand platforms.
The deal also provides that if the opening weekend has a gross opening weekend of $ 50 million or more, the film will be in theaters for at least five full weekends or 31 days before it becomes available on PVOD. The full terms of the contract were not disclosed.
“As audience fragmentation accelerates due to the rise in digital, streaming and cable cutting, as well as the unprecedented problems our industry is currently facing, our relationship with the exhibit has had to evolve and adapt to the changing distribution landscape,” said Donna Langley, chairwoman of Universal Filmed Entertainment Group, said in the statement.
There are nearly 600 movie theaters in Canada, including Cineplex’s 165. The total Canadian box office count is included in the North American balance sheet, which the industry uses to determine the success of a film during its opening and full release.
Universal has five theatrical releases planned for the remainder of 2020. The Croods: A New Age comes out this Thanksgiving and the company has four titles as of December: Half Brothers, All My Life, News of the World, and Promising Young Woman. ”
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.