Weeks after completely swearing off movies from Universal, AMC Theatres has reversed course and will be showing the blockbusters at AMC locations around the world after all. A new deal between the studio and exhibitor is being touted as a “historic” deal that could shape how theaters play ball with studios in a post-COVID world. In a new report from Variety, AMC Theatres is only requiring Universal to have a 17-day exclusive on theatrical releases before the studio can release them through VOD.
Under the new agreement, AMC will get a chunk of the VOD sales, which are now required to be premium rentals that hover around the $20 range for a 24-hour span. All Universal theatrical releases will now have to have to premium pricing should they go to VOD after the three-week theatrical grace period as opposed to a cheaper price some services offer.
Universal and AMC Theatres forge historic deal allowing theatrical releases to debut on premium VOD early https://t.co/5ZWoFJv9QP— Variety (@Variety) July 28, 2020
Breaking: AMC and Universal Pictures agreed to let movies come out online just 17 days after they open in theaters, down from 75, accelerating the shift to digital https://t.co/xZQmP5mDWJ— The Wall Street Journal (@WSJ) July 28, 2020