If you’re interesting in checking out the new Fast and Furious film but would prefer to skip theaters, you may only have to wait three short weeks before it’s available to watch in the comfort of your own home. AMC and Universal have struck an agreement that allows the latter to release its films on digital platforms just 17 days after they hit cinemas – a huge decrease from the traditional 70- to 90-day theatrical exclusivity window.
“The agreement includes at least three weekends (17-days) of theatrical exclusivity for all Universal Pictures and Focus Features theatrical releases, at which time the studio will have the option to make its titles available across premium video on demand (PVOD) platforms, including through AMC Theatres On Demand,” reads a press release.
Commenting on the agreement, AMC CEO Adam Aron said, “AMC enthusiastically embraces this new industry model both because we are participating in the entirety of the economics of the new structure, and because premium video on demand creates the added potential for increased movie studio profitability, which should in turn lead to the green-lighting of more theatrical movies. This multi-year agreement preserves exclusivity for theatrical viewing for at least the first three weekends of a film’s release, during which time a considerable majority of a movie’s theatrical box office revenue typically is generated. AMC will also share in these new revenue streams that will come to the movie ecosystem from premium video on demand. So, in total, Universal and AMC each believe this will expand the market and benefit us all. Focusing on the long-term health of our industry, we would note that just as restaurants have thrived even though every home has a kitchen, AMC is highly confident that moviegoers will come to our theatres in huge numbers in a post-pandemic world. As people enjoy getting out of their homes, we believe the mystical escape and magical communal experience offered at our theatres will always be a compelling draw, including as it does our big screens, big sound and big seats not to mention the alluring aroma of our perfectly prepared popcorn. Universal and AMC have partnered in bringing stellar movies to moviegoers for a full century. With this historic industry changing agreement, together we will continue to do so and in a way that should drive success for us both.”