More Opportunities for Premium Video on
Demand will be Available on the Cineplex Store
TORONTO and UNIVERSAL CITY,
Calif., Nov. 20, 2020 /CNW/ -
Cineplex (TSX: CGX), Canada's
largest and most innovative film exhibitor, and Universal Filmed
Entertainment Group (UFEG) today announced a multi-year agreement
for theatrical exclusivity windows in the Canadian market.
This new dynamic window agreement between the two companies
preserves the theatrical experience, while adapting to changing
consumer behaviour, particularly as the world and the entertainment
industry navigate the effects of the COVID-19 pandemic. The
two companies are committed to creating a sustainable model for
years to come.
Similar to the agreements that Universal has established with
other major exhibitors, coming into effect immediately, the
agreement guarantees at least three full weekends (17 days) of
theatrical exclusivity for all Universal Pictures and Focus
Features theatrical releases, at which point the studio will have
the option to make its titles available across premium video on
demand (PVOD) platforms, including the Cineplex Store. Under
the terms of the deal, any title that has a North American opening
weekend box office of $50 million or
more, including franchise titles, will play exclusively in theatres
for at least five full weekends (31 days) before the title can be
made available on PVOD.
"The pandemic has given the industry and movie-lovers around the
globe a new appreciation for the magic of the big screen
experience," said Ellis Jacob,
President and CEO, Cineplex. "We are pleased to work
alongside like-minded partners such as Universal, a studio that
respects the theatrical window and is committed to the sustainable
long-term health of the theatrical ecosystem."
"With audience fragmentation accelerating due to the rise in
digital, streaming and cord cutting, as well as the unprecedented
issues our industry is facing right now, our relationship with
exhibition had to evolve and adapt to the changing distribution
landscape," said Donna Langley,
Chairman, UFEG. "Giving consumers the flexibility to view
content on their terms is more important than ever to help expand
moviegoing, and Ellis and our partners at Cineplex allow us to
increase these opportunities for our Canadian audience."
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 (11/25), Half Brothers (12/4), All My Life (12/4), News of the World
(12/25) and Promising Young Woman (12/25).
About Cineplex:
Cineplex (TSX: CGX) is a top-tier Canadian brand that operates
in the film entertainment and content, amusement and leisure, and
media sectors. As a leading entertainment and media company,
Cineplex welcomes millions of guests annually through its circuit
of theatres and location-based entertainment ("LBE") venues across
the country. In addition to being Canada's largest and most innovative film
exhibitor, Cineplex also operates successful businesses in digital
commerce (CineplexStore.com), food service, alternative programming
(Cineplex Events), cinema media (Cineplex Media), digital
place-based media (Cineplex Digital Media "CDM") and amusement
solutions (Player One Amusement Group "P1AG"). Additionally,
Cineplex operates an LBE business through Canada's newest destinations for 'Eats &
Entertainment' (The Rec Room), and entertainment complexes
specifically designed for teens and families (Playdium). Cineplex
is a joint venture partner in SCENE, Canada's largest entertainment loyalty
program.
Proudly recognized as having one of the country's Most Admired
Corporate Cultures, Cineplex employs approximately 13,000 people in
its offices across Canada and
the United States. To learn more
visit Cineplex.com or download the Cineplex App.
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.
SOURCE Cineplex