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Cinemark Universal Agreement

Cinemark Universal Agreement: What It Is and What You Need to Know

In July 2020, Cinemark and Universal Studios made waves in the film industry by striking a groundbreaking agreement. The Cinemark Universal agreement is a deal that allows Universal to release its movies on demand just 17 days after their theatrical release. This deal, which stunned many in the industry, has far-reaching consequences, both for movie studios and theaters.

What is the Cinemark Universal Agreement?

The Cinemark Universal Agreement refers to the deal struck between movie theater chain Cinemark and movie studio Universal Studios. This deal allows Universal to release its movies on demand 17 days after their theatrical release instead of waiting the traditional 90 days. This means that Universal movies can be watched on streaming services such as Amazon, iTunes, Google Play, and Vudu just weeks after their release in theaters.

Why was the Cinemark Universal Agreement made?

The pandemic has drastically changed the movie industry, and this deal was made in response to the challenges theaters and studios are facing. With theaters closed for months, many studios have been forced to release their movies on demand. This has caused some tension between theaters and studios, especially because of the long-standing tradition of waiting 90 days after theatrical releases before movies can be released on streaming services.

The Cinemark Universal Agreement was made to address this tension and to find common ground. It allows for a shorter waiting period for movies to be released on demand, which benefits both studios and theaters. Studios can earn more money from on-demand releases, while theaters can continue to play movies on their screens, knowing that they won`t have to wait long before the movies are available on demand.

What are the implications of the Cinemark Universal Agreement?

The implications of the Cinemark Universal Agreement are significant. For one, it could set a precedent for other studios and theaters to negotiate similar agreements. It could also change the way movies are released, making on-demand releases more common and potentially decreasing the importance of theatrical releases.

The Cinemark Universal Agreement also has implications for consumers. With movies becoming available on demand just weeks after their theatrical release, consumers will have more choices about how and where they watch movies. They will no longer have to wait 90 days to see a movie they missed in theaters, and they can choose to watch movies on demand instead of going to a theater.

In conclusion, the Cinemark Universal Agreement is a significant development in the movie industry. It shows that studios and theaters are willing to work together to adapt to the changing landscape of the industry. While the implications of this deal are not yet fully known, it is clear that it will have a lasting impact on the way movies are released and how consumers watch them.